Hong Kong Aviation gets approval to buy Allco assets

09/25/2009 | WorldLeasingNews.com

Hong Kong Aviation gained approval from Australia's Foreign Investment Review Board to purchase the aviation assets of Allco Finance Group, which is in liquidation. Agricultural Bank of China and China Development Bank will help fund the deal. The acquisition's value was not disclosed, but the banks provided a $13 billion line of credit to HNA Group, one of Hong Kong Aviation's backers.

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