Japanese airline ANA is planning to buy an 8.8 per cent stake in Vietnam Airlines, after signing a memorandum of understanding with the southeast Asian carrier.
Japan’s biggest airline by revenue said the deal will help the two carriers take “maximum advantage” of the growth currently in countries such as Cambodia, Laos and Vietnam.
The deal is valued at $108 million and will see ANA land a seat on Vietnam Airline’s board.
The deal is expected to close between March and June and is part of a 2014 initiative by the Vietnamese government to privatise a lot of the country’s state-owned enterprises and boost its $184 billion economy.