GRAND China Airlines has secured a $1.2 billion private equity (PE) investment, Shanghai Daily reports. Chongqing Shenyin Longsheng Investment has made the investment in the subsidiary of HNA Group.
The PE funding will allow GRAND China to buy planes, repay short-term loans and issue shares in Hong Kong. Shenyin Longsheng is a PE fund targeting state-owned companies in infrastructure, transport and consumption industries.
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