(From SinoCast China Business Daily News)
SHANDONG, March 05, SinoCast -- Shangdong Airlines Co., Ltd. (Shandong Airlines) released on March 2 that China National Aviation Holding Company (CNAH) would acquire its stated-owned corporation shares and part of shares of its largest shareholder.
CNAH has signed agreement on the issue with Shandong Aviation Group (SDA), Shandong Airlines' largest shareholder. SDA will transfer 9120 corporate shares, 22.8% of Shandong Airlines, to CNAH. The takeover will cost CNAH CNY 166.00952212 million (USD 1= CNY 8.2770), or CNY 1.82 per share.
Meanwhile, CNAH has reached agreement with Shandong Airlines' controlling …