Aug. 17 (Bloomberg) -- Air China Ltd., the world’s biggest carrier by market value, is set to increase its stake in Cathay Pacific Airways Ltd. by buying shares from Citic Pacific Ltd., according to three people familiar with the situation.
The transaction may be announced as early as tonight, according to one of the people, who declined to be identified before a public announcement.
All three companies suspended their shares from trading in Hong Kong today, pending price sensitive announcements. Air China and Citic Pacific both hold 17.5 percent
stakes in Cathay Pacific, according to data compiled by Bloomberg.