China Southern Said in Talks to Sell Stake to American Air
- U.S. carrier in negotiations to put in about $200 million
- American would follow Delta in buying a Chinese airline stake
The silhouette of a traveler is seen at the American Airlines Group Inc. terminal of Miami International Airport (MIA) in Miami, Florida, U.S., on Tuesday, Sept. 23, 2014. American Airlines Group Inc. is scheduled to release earnings figures on Oct. 17.
Photographer: Mark Elias/BloombergChina Southern Airlines Co., Asia’s biggest carrier by passengers, is in advanced talks to sell a stake to American Airlines Group Inc., according to people familiar with the matter.
The negotiations focus on an investment of about $200 million by Fort Worth, Texas-based American in China Southern’s Hong Kong-listed shares, said the people, asking not to be identified as talks are confidential. The sale likely would take place through a private placement, one of the people said. China Southern has a market value of about $10 billion.