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Qatar takes shareholding interest in Cathay Pacific

Posted 6 November 2017 · Add Comment

Qatar Airways has continued its investment strategy with the purchase of 378.18 million shares of Cathay Pacific Airways Limited accounting for just under 10% of the Hong Kong airline's stock.


Completion of the transaction is expected to take place later today.
With the purchase complete, Qatar will become the third biggest shareholder of Asia’s largest international airline.
The Doha carrier agreed to buy 9.61 percent of the total issued share capital $1.75 per share from Hong Kong industrial company Kingboard Chemical, according to a stock exchange filing.
CEO Akbar Al Baker described Cathay as “one of the strongest airlines in the world, respected throughout the industry and with massive potential for the future.” Both airlines are members of the One World alliance.
An earlier bid by Qatar Airways to buy into another One World airline – American Airlines – was rejected by the US carrier
 

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