Chinese investor HNCA acquires Cargolux’ blocking minority
Agreement: Chinese investment company HNCA takes over 35 per cent-stake in Cargolux Airlines for USD 231 million
The search for a new strong associate for Cargolux Airlines has come to a conclusion. The future and the outgoing government of the Grand Duchy of Luxembourg have given the green light last week for the entry of the Chinese investor HNCA in international cargo airline.
According to first reports from Luxembourg HNCA participates directly or indirectly with USD 231 million and is said to have agreed to create a guarantee fund with USD 15 million to offset potential losses. The cargo airline is thereby gaining positive financial and commercial orientation.
It is still unclear when the transaction will take place. What is certain is that HNCA will receive 35 per cent of the shares and will thus have a blocking minority. The parcel of shares was acquired by the Luxembourg State after the withdrawal of Qatar Airways.
www.cargolux.com
Quelle: LogEastics
Portal: www.logistik-express.com