BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Cathay Pacific (CPCAF.OB, CPCAY.PK) announced a share purchase agreement for the company to purchase Hong Kong Express Holding's interest (being 315,060,716 ordinary shares in HKE held by Hong Kong Express and representing 100% of the issued share capital of HKE) for a consideration of HK$4.93 billion; comprising a cash consideration of HK$2.25 billion payable in cash; and a non-cash consideration of HK$2.68 billion settled through the issue and novation of promissory loan notes.
Upon completion of the deal on or before 31st December 2019, HKE will become a wholly-owned subsidiary of Cathay Pacific.
Copyright RTT News/dpa-AFX
© 2019 AFX News
