Billionaire Cheng’s NWS to Buy Stake in Beijing Airport

NWS Holdings Ltd. (659), controlled by Hong Kong billionaire Cheng Yu-tung, agreed to buy a stake in the operator of China’s biggest airport from sovereign-wealth fund GIC Pte, betting on a surge in travelers.

NWS will buy 8.8 percent of Beijing Capital International Airport Co. (694) for about HK$2.36 billion ($304 million), according to a Hong Kong stock exchange filing yesterday. The purchase of 383 million shares at HK$6.15 apiece will give the transportation unit of New World Development Co. (17) a 20.4 percent stake in the airport operator’s Hong Kong-listed H shares.

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