Monday, 27 May 2013
Philippine Airlines to buy 49% stake in Cambodia Air for $10M
Posted on 05:12 by gaurav kumar
May 27, 2013
http://www.gmanetwork.com
Flag carrier Philippine Airlines (PAL) is buying a 49 percent
equity stake in Cambodia Airlines Co. Ltd. for $10 million, the joint
venture between taipan Lucio Tan and diversified conglomerate San Miguel
Corp. (SMC) announced on Monday.
PAL would make a 10 percent down payment or $1 million upon completion
of the closing
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