Buying assets
May 18, 2010, Tuesday
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Print Edition
Print Edition
XI'AN Aircraft International Corp plans to buy a combined 2.31 billion yuan (US$338 million) of aviation assets from its parent and three affiliated companies by issuing 176.2 million new shares.
The aircraft maker will spend 642 million yuan to buy assets from its parent, AVIC Xi'an Aircraft Industry (Group) Co Ltd, 976 million yuan in assets from AVIC Shaanxi Aircraft Industry (Group) Corp Ltd, 259 million yuan in assets from Landing-gear Advanced Manufacturing Corp and 434 million yuan in assets from Xi'an Aviation Brake Technology Co, it said in a statement to the Shenzhen Stock Exchange.
(Winny Wang)
The aircraft maker will spend 642 million yuan to buy assets from its parent, AVIC Xi'an Aircraft Industry (Group) Co Ltd, 976 million yuan in assets from AVIC Shaanxi Aircraft Industry (Group) Corp Ltd, 259 million yuan in assets from Landing-gear Advanced Manufacturing Corp and 434 million yuan in assets from Xi'an Aviation Brake Technology Co, it said in a statement to the Shenzhen Stock Exchange.
(Winny Wang)
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