china-hotel china-hotels
Home China Global
Info Center
Destinations Flight Comparison Community guangzhou-hotels
My Account
China Eastern, Singapore Airlines Deal Fails
Update: 8/11/2008 12:05:00 PM Source: China Hotels


BEIJING -- China Eastern Airlines (CEA) announced on Sunday that the stake sale plan to Singapore Airlines (SIA) and Lentor Investments had failed.

The preliminary agreement would become invalid if no further progress was achieved as of Saturday, the expiring date, according to a CEA statement.

SIA and Temasek, Singapore's state-linked investment firm and the parent of Lentor Investments, signed a preliminary deal in September to take a 24-percent stake in the Shanghai-based CEA for 923 million U.S. dollars, or 3.80 Hong Kong dollars per share.

The bid was voted down by CEA shareholders in January, however, as they believed the offer price did not reflect the fair value of CEA.

But SIA did not plan to raise its offer price agreed in the framework agreement, SIA's vice president for public affairs Stephen Forshaw told Xinhua early this week.

Despite the failure, CEA would continue to look for strategic investors, increase cooperative chance with world leading airline companies and strive to improve the company's competitiveness on the global market, it said.

Editor: canton fair

Canton Fair Hotel Special  Hong Kong Hotel Deals  Compare and Reserve International Flights


Related News

  • Tourism Sector Skeptical of Hong Kong CEPA Benefits
  • Guangdong Enterprises Face New Trade Barriers
  • Guangdong Textile Import & Export Center settles in Humen
  • Guangdong to Focus on Service Sector
  • Pacific Ocean Islands for Sale to Affluent Cantonese
  • Canton Fair Hotels | Canton Fair Hotel | Canton Fair Review | Canton Fair 2011 | 109th Canton Fair | China Hotels Review | Canton Fair
    Site Map | About Us | Terms and Conditions | Privacy | Communities | Contact Us | Links
    Foire de Canton Hôtels Chine | La Feria de CANTÓN Hoteles | Übersicht Kanton-Messe Hotels | Fiera di Canton Hotel Cina | Feira de Canton Hotéis
    Canton Fair 2011 | Shanghai Hotels | Guangzhou Hotels | Shenzhen Hotels | Dongguan Hotels | Beijing Hotels | China Hotels | China Accommodation
    Hangzhou Hotel | Shanghai Hotel | Guangzhou Hotel | Shenzhen Hotel | Dongguan Hotel | Beijing Hotel | Canton Fair | XiAn Hotel | Qingdao Hotel
    Hong Kong Hotels | Taipei Hotels | Tokyo Hotels | Los Angeles Hotels | Las Vegas Hotels | New York Hotels | HongKong Hotels | Frankfurt Hotels
    Copyright@2011, All Rights Reserved.