Weil, Gotshal & Manges and DLA Piper have advised on HNA Group’s agreement to buy airport luggage handler Swissport International from European private equity firm PAI Partners for $2.81 billion.

HNA, the owner of China’s Hainan Airlines, said in a statement that it will run the operator as a stand-alone business within its group.

A Weil team led by London partner Peter King and Beijing partner Li Li advised HNA. DLA Piper Madrid Partner Juan Picon represented PAI Partners.

Paris-based PAI bought Swissport from Ferrovial SA in 2011. Swissport provides ground services for around 229 million passengers and 4.1 million tonnes of cargo a year on behalf of some 700 aviation clients.

HNA said the deal is still subject to regulatory approvals and is expected to close by the end of the year.