EVA to buy 16% of China Cargo Airlines

EVA Airways, Taiwan's second-largest airline by revenue after China Airlines, plans to acquire a 16 percent stake in China Cargo Airlines for US$49.24 million, reported Dow Jones Newswires.
EVA Airways didn't elaborate in its statement.

Shanghai-based China Cargo Airlines is a joint venture between China Eastern Airlines and China Ocean Shipping (Group), also known as Cosco Group.
(Source:www.cargonewsasia.com)