China Eastern Air invites private investors to logistics business

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China Eastern Air Holding Company has sold a 45% stake in its Eastern Air Logistics (EAL) division to four private investors in an attempt to build China’s own FedEx, UPS, or DHL. According to the South China Morning Post, Legend Holdings, owner of Lenovo, will take 25%, Greenland Financial will own 10%, while two private logistics firms – Global Logistic Properties’ China branch and Deppon Logistics – will take a 5% stake each. The move marks a progression of the Chinese government’s plans to reform state-owned enterprises by bringing in private investors.