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China Eastern Sells 24 Percent Stake

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-09-02
SHANGHAI, China (AP) -- China Eastern, struggling after two years of losses, agreed Sunday to sell a 24 percent stake to Singapore Airlines and Temasek Holdings, Singapore's government investment arm.

The alliance was expected to bring welcome cash and managerial expertise to the Shanghai-based carrier.

The $923 million deal has been long anticipated -- trading in the two airlines' shares has been suspended since late May.

 

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