Deals
Singapore Air Climbs After Virgin Stake Sale: Singapore Mover
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Singapore Airlines Ltd. rose to the highest in almost three months on the city’s stock exchange after agreeing to sell its stake in Virgin Atlantic to Delta Air Lines Inc.
Delta will buy the 49 percent shareholding for $360 million, according to a stock exchange filling late yesterday. Singapore Air will book an S$322 million ($264 million) gain from the sale, after accounting for a writedown in its investment in the U.K. carrier controlled by billionaire Richard Branson.