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Cheung Kong to Buy $1.89 Billion of Planes for Leasing

Corrected

Hong Kong billionaire Li Ka-shing’s Cheung Kong Holdings Ltd. agreed to pay $1.89 billion to buy 45 planes from companies including General Electric Co.’s aviation services unit to enter aircraft leasing.

Cheung Kong will also form a 60-40 venture with MC Aviation Partners Inc. that will buy an additional 15 planes for $733.5 million, according to the company’s filing to Hong Kong’s stock exchange yesterday evening.