EVA Air to Invest 328 Million Yuan in China Eastern Cargo Unit
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EVA Airways Corp., Taiwan’s second-biggest carrier, agreed to invest 328 million yuan ($49 million) in China Eastern Airlines Corp.’s cargo unit as its mainland partner restructures freight operations following a takeover.
EVA will get a 16 percent stake in China Cargo Airlines following the deal and it will also quit a venture with Shanghai Airlines Co., the Taoyuan, Taiwan-based carrier said in stock exchange statement today. China Cargo plans to raise a total 2.05 billion yuan, according to the statement.