Deals
Singapore Air Raises Virgin Stake Amid Ownership Speculation
- Singaporean carrier increasing stake to 23.11% from 22.91%
- Air NZ, Virgin Australia's largest shareholder, mulls exit
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Singapore Airlines Ltd. raised its stake in Virgin Australia Holdings Ltd. a week after future ownership of the A$1.3 billion ($987 million) airline was put in doubt.
The Singapore carrier increased the shareholding to 23.11 percent from 22.91 percent, it said in a statement late Wednesday. The airline said it paid A$3.18 million to settle a series of equity swaps, or 46.7 Australian cents on average for each Virgin Australia share.