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China's Xiamen Airport gets nod to buy assets from parent

Mon Jun 23, 2008 9:01pm EDT

SHANGHAI, June 24 (Reuters) - Xiamen Airport 000905.SZ, an airport operator based in China's southern Fujian province, said on Tuesday it had obtained regulatory approval to buy airline-related assets from its parent.

China

Xiamen Airport will pay 516.2 million yuan ($75 million) for the assets from Xiamen International Airport Group Co, the company said in a statement to the Shanghai Stock Exchange.

In addition, Xiamen Airport will buy a port service provider from its parent for 50.7 million yuan.

The asset acquisition, which recently got the green light from Xiamen's state asset watchdog, was first disclosed in April.

(US1=6.88 Yuan)

(Reporting by Samuel Shen)

China


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