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Qatar Airways buys 9.6 pct stake in Cathay Pacific - Kingboard Chemical
November 6, 2017 / 12:31 AM / a month ago

Qatar Airways buys 9.6 pct stake in Cathay Pacific - Kingboard Chemical

SINGAPORE/DUBAI, Nov 6 (Reuters) - Hong Kong’s Kingboard Chemical Holdings on Monday said it had agreed to sell its 9.6 percent stake in Cathay Pacific Airways to Middle Eastern carrier Qatar Airways for HK$5.16 billion ($661 million).

Kingboard, an investment holding company, said it would recognise a gain of HK$800 million on the sale which represented its entire stake in the Hong Kong airline.

Qatar Airways was not immediately available to comment. ($1 = 7.8021 Hong Kong dollars) (Reporting by Jamie Freed and Alexander Cornwell; Editing by Stephen Coates)

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