gategroup announces completion of change in ownership

ZURICH Glattbrugg, 3 April 2019



  • RRJ Capital becomes sole shareholder
  • Temasek will remain invested in gategroup through a mandatory exchangeable bond.

gategroup Holding AG, the world’s largest provider of airline catering and retail on board, is pleased to announce that RRJ Capital has completed the acquisition of all outstanding shares in gategroup from HNA Group. As a result, RRJ Capital is now the sole shareholder and Temasek remains invested in gategroup through a mandatory exchangeable bond.

gategroup's new Board of Directors will be chaired by Richard Ong, Founder and Chairman of RRJ Capital. New members appointed to the Board include Charles Ong (co-Chairman of RRJ Capital), Andreas Schmid, and Björn Bajan. Frederick W. Reid and Xavier Rossinyol maintain their current roles on the board.

Says Richard Ong, gategroup’s Chairman of the Board: “I look forward to working as Chairman of the Board of Directors of gategroup. I would like to thank Adam Tan for his contributions as Chairman of gategroup from 2016 to 2019 and helping the company progress the implementation of their successful Gateway 2020 strategy.”

Says Xavier Rossinyol, CEO of gategroup: “I would like to thank RRJ Capital and Temasek for their trust in gategroup and look forward to working with our new Board under the leadership of Chairman Richard Ong. gategroup has made significant progress thanks to the excellent support of the outgoing Board of Directors, the guidance of Chairman Adam Tan and the HNA Group leadership team, for which we are very grateful. Additionally, I would like to thank our gategroup colleagues around the globe for their commitment to supporting our Gateway 2020 strategy which has led to exceptional performance for the fourth consecutive year".

Credit Suisse (Singapore) Limited and UBS AG Hong Kong Branch are the joint financial advisors to RRJ Capital and led a financing consortium including ING and CIMB Singapore. White & Case LLP is the legal advisor to RRJ Capital.

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Nancy Jewell

About gategroup
gategroup is the global leader in airline catering, retail-on-board and hospitality products and services. gategroup provides passengers with superior culinary and retail experiences, leveraging innovation and advanced technology solutions. Headquartered in Zurich, Switzerland, gategroup deliver operational excellence through the most extensive catering network in the aviation industry, serving more than 700 million passengers annually from over 200 operating units in over 60 countries/territories across all continents. In 2018, gategroup reached CHF 4.9 billion in revenues generated by approximately 43,000 employees worldwide.  For further information, please visit
About RRJ Capital
RRJ Capital is an investment firm which focuses on long term private equity investments. RRJ manages approximately US$ 11 billion of funds, with portfolio companies in Asia, Australia, Europe and USA. RRJ is based in Singapore and Hong Kong.
About Temasek
Incorporated in 1974, Temasek is a global investment company headquartered in Singapore. Supported by its network of international offices, Temasek owns a S$308 billion (€191b) portfolio as at 31 March 2018, with significant exposure to Singapore and the rest of Asia.Temasek’s investment activities are guided by four investment themes and the long-term trends they represent: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. Temasek’s investment strategy allows it to capture opportunities across the sectors in which it invests that help bring about a better, smarter and more connected world.   

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