BRIEF-Swire Pacific Updates On Proposal For Privatisation Of Hong Kong Aircraft Engineering Co
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June 11 (Reuters) - Swire Pacific Ltd:
* UPDATES ON PROPOSAL FOR PRIVATISATION OF HONG KONG AIRCRAFT ENGINEERING CO LTD BY SWIRE PACIFIC LTD BY WAY OF SCHEME OF ARRANGEMENT
* UNDER SCHEME, SCHEME SHARES WILL BE CANCELLED; EACH SCHEME SHAREHOLDER WILL RECEIVE CANCELLATION PRICE OF HK$72 FOR EACH SCHEME SHARE
* ON BASIS OF CANCELLATION PRICE OF HK$72 PER SCHEME SHARE, AMOUNT OF CASH PAYABLE TO SCHEME SHAREHOLDERS WOULD BE ABOUT HK$3 BILLION
* CO INTENDS TO FINANCE CASH REQUIRED FOR PROPOSAL THROUGH ITS EXISTING CASH RESOURCES
* UPON SCHEME BECOMING EFFECTIVE, ALL SCHEME SHARES TO BE CANCELLED;HAECO TO MAKE APPLICATION FOR LISTING OF HAECO SHARES TO BE WITHDRAWN Source text for Eikon: Further company coverage:
