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TEMASEK TO TAKE STAKE IN HO CHI MINH CITY-BASED PACIFIC AIRLINES.
(From Asia Pulse)
HANOI, Aug 10 Asia Pulse - The HCM City-based joint-stock Pacific Airlines is expected to pull out of its financial dive when Singaporean group Temasek takes a 30 per cent stake in the firm later this year.
Pacific Airlines' assets were priced at US$187 million, and 30 per cent of its stake would be sold for about $50 million, said an official from the Ministry of Finance - which is managing the struggling airline.
Pacific Airlines and Temasek are preparing stake-transferance procedures and a contract agreement could be reached by late September, said the Deputy Minister for Finance, Le Thi Bang Tam.
Temasek was chosen …
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