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FinanceAsia would like to thank Deutsche Bank, HSBC and Macquarie for contributing $18,656 to Grameen Foundation at the 2009 Achievement Awards gala dinner.
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Sep 17, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
Cathay Pacific Airways Limited has agreed to sell 20.7 million shares, representing a 12.45% stake, in Hong Kong Aircraft Engineering Company Limited (HAECO), a provider of aircraft repair and maintenance services, to Swire Pacific Limited at HKD91.83 ($11.85) per share for approximately HKD1,900.97 million ($245.29 million). All the companies are based in Hong Kong.
Cathay Pacific Airways is an airline company, while Swire Properties is a property developer.
Following the transaction, Cathay Pacific's interest in the issued share capital of HAECO will decrease from 27.45% to 15%, while Swire Pacific's stake will increase from 33.52% to 45.97%.
Deal Value (US$ 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%
Tags: acquisition aircraft airline aviation engineering hong kong investment property
Companies: Cathay Pacific Airways, Ltd (CPCAY), Hong Kong Aircraft Engineering Co. Ltd. (HKAEY), Swire Pacific Ltd. (SWRAY), Swire Properties Ltd (SWPPY)
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Swire Pacific Limited is one of Hong Kong's leading listed companies, with diversified interests in five operating divisions: Property, Aviation, Beverages, Marine Services and ...
Swire Pacific Limited. The Group's principal activities are carried out in five operating divisions: Property, Aviation, Beverages, Marine Services and Trading and Industrial.
http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=870794302
Swire Pacific Limited. The Group's principal activities are carried out in five operating divisions: Property, Aviation, Beverages, Marine Services and Trading and Industrial.
http://wrightreports.ecnext.com/coms2/reportdesc_COMPANY_870794302
Swire Pacific Limited (Pink Sheets:SWRAY) Contact Information Swire Pacific Limited 35th Fl., 2 Pacific Place, 88 Queensway Hong Kong Tel