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Volume 14,Issue 3 Autumn 2012

ADB, Pacific Fund invest in Hainan Airlines Airport


Hainan Airlines (Group) Co. Ltd. introduced the Asian Development Bank (ADB) and the Pacific Fund Ltd. of Hong Kong as its co-strategic investors in a joint venture in China during an opening ceremony held on January 18th. The official ceremony, held at Sanya in Southern China’s province of Hainan, was attended by many senior officials and representatives of the three companies. ADB, a non-profit financial institution, will invest with the Hainan Group through Kingward Investment Ltd. and Worldwide United Ltd., both subsidiaries of the Pacific Fund Ltd. of Hong Kong to establish the Hainan Airlines Airport Holdings Group Co. Ltd. The venture is divided into a 51 and 49 percent holdings share between Hainan Airlines and the Asian Development Bank, respectively, with the bank taking a share of USD 200 million in investment. ADB, which aims to help develop Asian countries, will also provide two loans to Hainan Airlines Airport amounting to RMB 1.2 billion and USD 200 million. These loans will be used mainly to facilitate the development of China’s central and west area airports.

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