Investment Updates News
- CNAC plans infrastructure fund
Date: 23-Nov-2006 Sources: (Shenzhen Daily)
CHINA National Aviation (Group) Co. (CNAC) plans to launch a US$1 billion infrastructure fund to invest in mainland airport infrastructure and aircraft leasing, a source familiar with the deal said yesterday.
The firm is searching for cornerstone investors, most likely from overseas, to help build the fund, the source said. 'It's still in the early stage. Nothing is finalized,'the source said. Its former subsidiary, Hong Kong-listed China National Aviation Co., which sold its 43.3 percent of Hong Kong carrier Dragonair to Cathay Pacific Airways Ltd., is being privatized by Air China Ltd.
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