18-Dec-2014 10:10 AM
Grand China Air to increase Hainan Airlines stake
Hainan Airlines and controlling shareholder Grand China Air Co Ltd signed (12-Dec-2014) an equity transfer agreement in which Grand China Air will purchase 595 million shares from Hainan Development Holdings Co Ltd for CNY1900 million (USD296.6 million). Following the transfer, Grand China Air will increase its stake in Hainan Airlines from 29.95% to 34.84%. [more - original PR - Chinese]