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China Eastern Gets Purchase Agreement From Singapore Airlines
September 3, 2007 |
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Temasek Holdings confirms that it has entered into an agreement, via its wholly-owned investment holding subsidiary Lentor Investments, with China Eastern Airlines, China Eastern Air Holding Company and Singapore Airlines Limited for its proposed investment in the Chinese carrier.
Subject to detailed definitive agreements, final regulatory and CEA's shareholder approval, Lentor is expected to subscribe for 649,426,737 new H shares at HK$3.80 per share for a total of approximately HK$2.5 billion representing approximately 8.3 percent of the enlarged capital of CEA.
Wan Chee Foong, Temasek's director of investment, said, "We are interested in transportation and logistics as an investment focus. It reflects the economic developments in Asia, and the pace at which Asia is getting increasingly interconnected within the region, as well as with the rest of the world."
Incorporated in 1974, Temasek Holdings is an Asia investment firm headquartered in Singapore. Supported by affiliates and offices around Asia, it manages a diversified portfolio, concentrated principally in Singapore and other Asian economies.
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