Qatar Airways to Sell Cathay Pacific Stake for $896 Million
By P.R. Venkat
Cathay Pacific Airways has agreed to buy back the shares Qatar Airways holds in the Hong Kong-listed airline for 6.97 billion Hong Kong dollars, equivalent to US$896.5 million.
Qatar Airways, which holds 643.08 million shares, or a 9.57% stake in Cathay Pacific, will sell its entire holding for HK$10.8374 a share, Cathay Pacific said late Wednesday.
The sale price represents a 3.9% discount to Cathay Pacific's last traded price of HK$11.28 a share.
Cathay Pacific said that although the companies have agreed to the terms of the buyback deed, it won't execute the deed unless it obtains approval from at least three-fourths of the votes cast by independent shareholders, in person or by proxy, at an extraordinary general meeting.
Funding for the share buyback will come from internal resources and won't affect the airline's funding requirements for its operations, Cathay Pacific said.
Post-buyback, Swire Pacific's holdings in Cathay Pacific would increase to 47.69% from 43.12%, while Air China's stake would rise to 31.78% from 28.74%.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
November 05, 2025 19:12 ET (00:12 GMT)
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