Cathay takes over Dragon Air
(Reuters)
Updated: 2006-06-10 10:35
(L-R) Chairman of Air China Limited Li Jiaxiang, Chairman of Swire
Pacific Limited Christopher Pratt, Managing Director of CITIC Pacific Limited
Henry Fan, Chairman of China National Aviation Company Limited Kong Dong, and
Chief Executive of Cathay Pacific Airways Limited Philip Chen attend a news
conference in Hong Kong June 9, 2006. Hong Kong's Cathay Pacific Airways Ltd.
said on Friday it would pay HK$8.22 billion ($1.05 billion) in cash and shares
to take over rival Dragonair in a long-expected deal that expands its access to
the fast-growing mainland Chinese market. [Reuters]
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