SHANGHAI, June 19 China Eastern Air Holding said
on Monday it has sold stakes in its freight unit to four firms
including Legend Holdings and Global Logistic
Properties (GLP) in the Chinese aviation sector's
first mixed-ownership reform deal.
The parent company of China Eastern Airlines
said in a statement it signed the deal for Eastern Air
Logistics with the four companies, which also include Chinese
logistics firm Deppon Logistics and Greenland Financial, at a
ceremony in Shanghai.
China Eastern Air Holding will retain a 45 percent stake in
the cargo unit, while Legend Holdings, GLP, Deppon and Greenland
will hold 25 percent, 10 percent, 5 percent and 5 percent
respectively. The remaining 10 percent will be held by Eastern
Air Logistics' core employees, it added.
Financial terms of the deal were not disclosed.
(Reporting by Brenda Goh; Editing by Gopakumar Warrier)