Jizhong Energy buys 15% stake in Xiamen Airlines

Singapore
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Hebei Aviation will transfer its 15% stake in Xiamen Airlines to coal company Jizhong Energy Resources.

Jizhong will take over the shares for CNY1.92 billion ($308 million), China Southern Airlines said in a statement on the Shanghai Stock Exchange.

China Southern holds a 51% stake in Xiamen while Xiamen C&D Corporation has a 34% stake.