Following the transaction, Cathay Pacific's interest in the issued share capital of HAECO will decrease from 27.45% to 15%, while Swire Pacific's stake will increase from 33.52% to 45.97%.

Deal Value (US$ Million) 245.29
Deal Type                Acquisition
Sub-Category             Minority Acquisition
Deal Status              Announced: 2009-09-16

Deal Participants

Target (Company)   Hong Kong Aircraft Engineering Company Limited
Acquirer (Company) Swire Pacific Limited
Vendor (Company)   Cathay Pacific Airways Limited

Deal Rationale

The transaction would enable Swire Pacific to make a significant increase in its strategic investment in HAECO. At the same time it affirms Swire Pacific's long-term commitment to Cathay Pacific and HAECO in particular, and to Hong Kong aviation in general. In addition, the sale would improve Cathay Pacific's cash position and provide funds that will strengthen its balance sheet.

% Acquisition 12.45%

Following the transaction, Swire Pacific would increase its shareholding in Cathay Pacific Airways from approximately 39.97% to approximately 41.97%.

In addition, CITIC Pacific has also agreed to sell its 12.5% stake in Cathay Pacific Airways to Air China Limited for HKD HKD6,335 million ($817.51 million).

Deal Value (US$ Million) 130.7
Deal Type                Acquisition
Sub-Category             Minority Acquisition
Deal Status              Announced: 2009-08-18

Deal Participants

Target (Company)   Cathay Pacific Airways Limited
Acquirer (Company) Swire Pacific Limited
Vendor (Company)   CITIC Pacific Limited

% Acquisition 2%