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Decision on China Eastern/Shanghai Airlines merger to be made on 30-Nov-2009

27-Nov-2009 8:33 AM

China Eastern Airlines Corporation Limited received (26-Nov-2009) notification from China Securities Regulatory Commission (CSRC) on 25-Nov-2009, stating that the Review Committee of the CSRC responsible for Merger and Restructuring of Listed Companies will hold a working meeting on 30-Nov-2009 to review the proposed absorption of Shanghai Airlines by the company through share exchange.  According to relevant regulations, China Eastern Airlines' A shares were suspended from trading on 26-Nov-200, pending publication by the company of an announcement in relation to the review result. Shares of Shanghai Airlines were also suspended. [more]

The review will be the last government assessment of the merger plan after the merger gained approval from the Civil Aviation Administration of China and the Ministry of Commerce (Shanghai Daily, 27-Nov-2009).  China Eastern Chairman, Liu Shaoyong, earlier this week stated he expected the merger to be completed by the end of the year.