Air NZ sells stake in Virgin Australia to Chinese-based Nanshan Group

Tina Morrison
Thu, 09 Jun 2016

By Tina Morrison June 10 (BusinessDesk) - Air New Zealand, the country's national carrier, sold a 19.98 percent stake in Virgin Australia to Chinese company Nanshan Group, which owns Qingdao Airlines, and said it's considering options for its remaining 6 percent holding in Australia's second-largest domestic airline. The Auckland-based carrier said it will sell the stake in Virgin Australia at 33 Australian cents per share, a premium to Virgin's last traded price on the ASX of 28 Australian cents. Last month, Virgin Australia issued new s...

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