Cathay Pacific Airways, Swire Pacific and Citic Pacific have sold their combined stake in Hong Kong Air Cargo Terminals Hactl for HK$2.56 billion $329 million, fulfilling their obligation to divest the shares ahead of the opening of a new air cargo terminal at the airport.
Hactl's remaining owners, Jardine Matheson, Hutchison Port Holdings, Wharf Holdings and China National Aviation Corporation CNAC, will buy the 40% stake, increasing their combined ownership to 100%. Their new individual shareholdings were not disclosed in stock exchange filings. The transaction will be completed by May 31.
In a statement, Hactl said the increased investment in the company by the remaining owners demonstrated confidence in the cargo facility's...
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