Shenzhen International to acquire 10% stake in Air China Cargo for $237m

Shenzhen International, an indirect wholly-owned subsidiary of Hong Kong-listed Shenzhen International Holdings, has agreed to acquire a 10 per cent stake in Beijing-based cargo airline giant Air China Cargo Co., Ltd for 1.57 billion yuan ($237 million), according to a company filing with The Stock Exchange of Hong Kong on November 9.

The acquirer has partnered with Air China Cargo’s existing investors — Aviation Capital, Cathay Pacific China Cargo, and Fine Star Enterprises — besides other investors to collectively inject a corpus of 4.86 billion yuan ($733 million) in Air China Cargo.

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