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Meilan Airport to buy 54.5% stake in HNA Airport
By Song Jingli (chinadaily.com.cn)
Updated: 2010-04-08 16:25
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The Hainan Meilan International Airport Company, the listed airport operator under HNA Group, has signed a deal with its parent and Kingward Investment Ltd to acquire a 54.5 percent stake in the HNA Airport Holdings Co for 2.2 billion yuan ($322.3 million), the company said in a statement filed to the Hong Kong stock exchange on Wednesday.
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The plan is pending approval from its shareholders and the securities regulator to go ahead, it added.
HNA Airport Holdings holds eight airports, including Sanya Phoenix Airport.
Trading of Meilan's shares resumed on Wednesday and soared 8.66 percent from its last closing price of HK$ 9.81 on March 26 to close at HK$10.66.
