SIA Engineering Wins Bid to Buy 30% Stake in China's Arport Aircraft Maintenance

MT Newswires

Mar 11

SIA Engineering (SGX:S59) won a bid to buy a 30% stake in Arport Aircraft Maintenance & Engineering (Fujian) for 129 million yuan, according to a Tuesday filing with the Singapore bourse.

Shares of the aircraft maintenance provider were down under 1% in Wednesday trading.

Following the successful bid, the company intends to enter an agreement with Arport's direct shareholders to complete the transaction and form a joint venture.

The JV is expected to conduct line maintenance and ground services at airports in Chinese cities Xiamen, Fuzhou, Wuyishan and Longyan.

Arport is a subsidiary of IPORT Group, which offers airport operation and management services.

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Engineering (Fujian) for 129 million yuan, according to a Tuesday filing with the Singapore bourse.</p><p>Shares of the aircraft maintenance provider were down under 1% in Wednesday trading.</p><p>Following the successful bid, the company intends to enter an agreement with Arport's direct shareholders to complete the transaction and form a joint venture.</p><p>The JV is expected to conduct line maintenance and ground services at airports in Chinese cities Xiamen, Fuzhou, Wuyishan and Longyan.</p><p>Arport is a subsidiary of IPORT Group, which offers airport operation and management services.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999006266.SGD","symbol_name":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2618997460","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2618997460","pubTimestamp":1773203626,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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