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Japan's ANA Group becomes Vietnam Airlines' strategic partner

Xinhua, July 5, 2016 Adjust font size:

Vietnam's national flag carrier Vietnam Airlines (VNA) has inked a deal with Japan's ANA Group to become strategic partners, VNA said on its website on Tuesday.

Accordingly, ANA Group will hold 8.771 percent of the VNA's shares to become a strategic shareholder of the carrier.

The VNA is expected to hold the 2016 extraordinary meeting of shareholders earlier than Sept. 30, 2016 in order to elect ANA Group to the board, amend the Statute of the Corporation and adopt a plan to increase charter capital by issuing additional shares offered to its existing shareholders.

After completing the share transaction to ANA Group, VNA will continue to look for potential financial investors to issue additional shares in order to increase its charter capital and reduce the state's share to 75 percent.

This percentage is set to fall further to 65 percent under the company's restructure plan, said VNA. Endit