Air China increases stake in Cathay

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    Air China buys extra 12.5% stake in Cathay Pacific from CITIC Pacific

    Air China has bought an additional 12.5% stake in Cathay Pacific from CITIC Pacific for US$825 million. The deal brings Air China's shareholding to within one basis point of the 30% threshold which would trigger a mandatory general offer.

    The deal will increase Air China's access to Cathay's well-regarded expertise and should strengthen the positions of both Beijing and Hong Kong as regional aviation hubs.

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