Hainan Airlines Co, the Chinese airline backed by United States billionaire George Soros, will pay 2.35 billion yuan (US$343 million) to buy a hotel stake and an office tower in Beijing.
The airline plans to pay 619 million yuan to buy 45 percent of Beijing Yanjing Hotel Co from its affiliate Hainan Hotels and Resorts, it said yesterday. The airline will also pay 1.73 billion yuan to buy 65 percent of Beijing Kehang Investment Ltd from Yangzijiang Real Estate Group and another 30 percent of Beijing Kehang from Hainan Hotels and Resorts.
(Shanghai Daily December 15, 2008)
