Swire Pacific Ltd (0087.HK)
* Offer price 31 pct lower than failed 2010 bid (Recasts, adds 2010 bid and analyst comment)
HONG KONG Cathay Pacific Airways Ltd shareholder Swire Pacific Ltd said it plans to take maintenance unit Hong Kong Aircraft Engineering Co Ltd private for about HK$3 billion ($382 million), citing low levels of trade in its shares.
HONG KONG, June 11 Swire Pacific Ltd said it planned to take unit Hong Kong Aircraft Engineering Co Ltd (HAECO) private for about HK$3 billion ($382 million), as low liquidity meant HAECO's listing was no longer a worthwhile source of funding.
SHANGHAI/SINGAPORE Cathay Pacific posted a smaller than expected annual loss due to a rebound in the cargo market, moderating ticket price falls and lower fuel hedging losses, prompting analysts to call that the worst was over for the Hong Kong airline.
* Annual loss HK$1.26 bln vs HK$2.15 bln loss expected by analysts
BRIEF-Swire Properties's Unit To Buy 50 Pct Stake In Shanghai Qianxiu From Shanghai Newbund For RMB1.35 Bln
* UNIT TO BUY 50% STAKE IN SHANGHAI QIANXIU CO LTD FROM SHANGHAI NEWBUND COMPANY FOR RMB1,349 MILLION