Eastern Airlines Industry Investment Company Limited signed an equity transfer agreement to acquire 7% stake in Juneyao Airlines Co., Ltd (SHSE:603885) from Shanghai Juneyao (Group) Co., Ltd. and Shanghai Juneyao Airlines Investment Co., Ltd. for CNY 1.7 billion on November 23, 2018. A total of 125.79 million shares will be acquired at CNY 13.62 per share. The shares being transferred are not subject to lock up. Shanghai Juneyao (Group) Co., Ltd. and Shanghai Juneyao Airlines Investment Co., Ltd. will respectively transfer 113.43 million shares representing 6.31% stake and 12.36 million shares representing 0.69% stake in Juneyao Airlines Co., Ltd to Eastern Airlines Industry Investment Co., Ltd. Prior to the deal, Shanghai Juneyao (Group) Co., Ltd. held 63.12% stake in Juneyao Airlines. Upon completion of the transfer, Eastern Investment will hold 7% of shares of Juneyao Airlines. Eastern Airlines Industry Investment Company Limited completed the acquisition of 7% stake in Juneyao Airlines Co., Ltd (SHSE:603885) from Shanghai Juneyao (Group) Co., Ltd. and Shanghai Juneyao Airlines Investment Co., Ltd. on January 8, 2019.