Qatar Air buys 9.6% Cathay Pacific stake for HK$5.2b
Purchase would make the Doha-based company the third-largest shareholder in the HK flag carrier
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Singapore
QATAR Airways agreed to acquire a stake in Cathay Pacific Airways, a deal that would help it gain a foothold in the world's second-biggest aviation market.
The Middle Eastern carrier will buy 9.6 per cent of Cathay from Hong Kong-based Kingboard Chemical Holdings Ltd and related companies for HK$5.16 billion (S$902.5 million), according to a filing to the city's stock exchange on Monday. Cathay chief executive officer Rupert Hogg said he looks forward to a "continued constructive relationship".
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