Qatar Airways buys 9.6 pct stake in Cathay Pacific - Kingboard Chemical

Kingboard Holdings

06/11/2017 24:30

SINGAPORE/DUBAI, Nov 6 (Reuters) - Hong Kong's Kingboard 
Chemical Holdings  0148.HK  on Monday said it had agreed to sell 
its 9.6 percent stake in Cathay Pacific Airways  0293.HK  to 
Middle Eastern carrier Qatar Airways for HK$5.16 billion ($661 
million). 
    Kingboard, an investment holding company, said it would 
recognise a gain of HK$800 million on the sale which represented 
its entire stake in the Hong Kong airline. 
    Qatar Airways was not immediately available to comment. 
($1 = 7.8021 Hong Kong dollars) 
 
 (Reporting by Jamie Freed and Alexander Cornwell; Editing by 
Stephen Coates) 
 ((Jamie.Freed@thomsonreuters.com; +65 6318 4789;)) 
 
Keywords: CATHAY PACIFIC M&A/QATAR AIRWAYS