Jizhong Energy buys 15 percent of Xiamen Airlines

HONG KONG Wed Dec 26, 2012 10:29am EST

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HONG KONG Dec 26 (Reuters) - Jizhong Energy Resources bought Hebei Aviation Investment Group's 15 percent stake in Xiamen Airlines for 1.9 billion yuan ($307.8 million), Xiamen's parent China Southern Airlines said late on Wednesday.

China Southern retains a 51 percent stake in Xiamen Airlines, while Xiamen C&D Corporation Ltd owns 34 percent.

Jizhong's Shenzhen-listed shares and China Southern's Shanghai shares each shed 0.5 percent on Wednesday. China Southern's Hong Kong stock slipped 1.5 percent on Monday.

Hong Kong markets have been closed since midday on Monday for the Christmas holiday and will resume trading on Thursday.

($1 = 6.235 yuan)

(Reporting by Clement Tan; Editing by John Stonestreet)

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