Hogg Robinson Group (HRG) revealed on Thursday that Dnata, a travel company owned by the Dubai government, has acquired a 20% stake in the U.K.-based travel management company.

Dnata, a subsidiary of Emirates Group, said it does not intend to make a formal offer for HRG but reserves the right to do so.

Dnata provides passenger, cargo, ramp and technical services for airlines at Dubai International Airport. Dnata also owns a travel agency whose corporate division is a partner of HRG in the Middle East.

HRG established a presence in the U.S. when it acquired Sea Gate Travel of New York in 2005. The following year, HRG bought Robustelli World Travel of Stamford, Conn. In April of this year, HRG launched an agency affiliate program.

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