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RTNominal down6.270 -0.180 (-2.791%)

31/05/2022 10:50

Air China (00753) plans to get control of Shandong Airlines

[ET Net News Agency, 31 May 2022] Air China Limited (00753) said the company is
planning to acquire the control of Shandong Aviation Group Company Limited (Shandong
Aviation Group Corporation), and thereby acquiring the control of Shandong Airlines Co.,
Ltd. (Shandong Airlines).
Shandong Aviation Group Corporation is now held as to 49.4% by the company and is an
associate of the company, and Shandong Airlines is held as to 22.8% by the company and 42%
by Shandong Aviation Group Corporation. The transaction is currently at negotiation stage
and no due diligence, audit, valuation and other related works have been completed. The
company and the counterparties have not yet signed any transaction agreement in relation
to the transaction and the specific proposal of the transaction is still under planning.
There is significant uncertainty as to whether the parties to the transaction will
ultimately reach an agreement on the transaction and sign the relevant agreement. (RC)

Remark: Real time quote last updated: 18/08/2022 15:15
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