September 17, 2013 / 8:50 AM / 6 years ago

Luxembourg courts Chinese investors for Cargolux stake

BRUSSELS (Reuters) - Luxembourg is in talks with Chinese investors over the sale of its 35 percent stake in freight-only airline Cargolux CLUX.UL.

The government said in a statement that representatives of Henan province and investment vehicle Henan Civil Aviation Development and Investment Company (HNCA) had visited Luxembourg airport and the Cargolux headquarters on Monday.

“The HNCA company, being one of the potential candidates which have expressed their interest in the Cargolux stake, is in close talks with Luxembourg,” the government said in a statement.

Luxembourg said in December it had bought back a stake in Cargolux from Qatar Airways for the original sale price of $117.5 million, with the intention of selling it on soon.

Cargolux’s other shareholders include Luxembourg airline Luxair (43.4 percent) and state-owned Luxembourg banks BCEE (10.9 percent) and SNCI (10.7 percent).

Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop and Louise Heavens

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