, Singapore

SIA takes a blow as Chinese firms strengthen grip on Virgin Australia

Nanshan Group is snapping up 811 million shares.

Chinese companies strengthened their grip on Virgin Australia Holdings Ltd. as a second conglomerate bought a stake in the carrier, handing a blow to key shareholder Singapore Airlines Ltd.

Nanshan Group will buy 811 million shares, or about 20 percent of Australia’s second-largest airline from Air New Zealand Ltd., the Auckland-based carrier said Friday. Read the full report here.

 

Photo: IanC66/Shutterstock.com

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