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The Hong Kong company expects a profit of around US$269 million from sale of stake to its partner in the project, Shimao Property
Qatar Airways has purchased a stake of almost 10% in Cathay Pacific, as the Middle Eastern carrier looks to build its portfolio of airline investments. Qatar Airways bought 378.2 million Cathay Pacific shares from Kingboard Chemical Holdings Ltd., with the deal valued at 5.2 billion Hong Kong dollars ($661.6 million). The transaction closed Nov. 6. The deal gives Qatar Airways a 9.61% holding in its Oneworld Alliance partner Cathay.
DUBAI/SINGAPORE (Reuters) - Qatar Airways said on Monday it had broadened its global reach with the acquisition of a 9.61 percent stake in Cathay Pacific Airways Ltd (0293.HK), complicating the Hong Kong carrier’s share registry and sparking a sharp fall in its share price. (5-0)
Cathay Pacific Airways dropped in Hong Kong after Qatar Airways agreed to buy a stake to become the Hong Kong-based carrier’s third biggest shareholder.
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. (5-0)
Qatar Airways Co. is buying a stake in Cathay Pacific Airways Ltd. for $661 million, the latest in a string of investments in global rivals by the Middle East carrier.
For Qatar Airways, its first major stake in an Asian airline will allow it to boost its global influence and potentially traffic through its Doha hub. (6-0)
A passenger plane of Cathay Pacific Airways parks at the airport in Colomiers near Toulouse, France October 19, 2017. — Reuters picHONG KONG, Nov 6 — Shares of Cathay Pacific Airways dropped as much as 4.7 per cent today morning after Middle Eastern carrier Qatar Airways bought 9.6 per cent stake.
Hong Kong's Kingboard Chemical Holdings on Monday said it had agreed to sell its 9.6 percent stake in Cathay Pacific Airways to Middle Eastern carrier Qatar Airways for HK$5.16 billion ($661 million). (3-0)
Investors seeking momentum may have First Trust Hong Kong AlphaDEX Fund (FHK - Free Report) on radar now. The fund recently hit a 52-week high. Shares of FHK are up approximately 15.2% from the 52-week low of $31.82/share.
HONG KONG (Reuters) - Kingboard Chemical Holdings Ltd, the third-largest shareholder in Cathay Pacific Airways Ltd, has called on the airline's founding Swire family to intervene to lead the carrier out of "hard times", the South China Morning Post reported on Monday.
A real estate company controlled by Chinese tycoon Cheung Chung-kiu confirmed it is seeking to buy the Leadenhall Building in London, the Square Mile’s tallesttower and known as the “Cheesegrater”.
Chinese banks to finance first stage of new financial district coming up near City Airport in British capital
LONDON (Nov 18): With Britain trying to hammer out the terms of its exit from the European Union and banks considering their options on the continent, is this the best time to start building a new financial district in London?
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.