$ST Engineering(S63.SI)$
ST Engineering wholly owned subsidiary, ST Engineering Aerospace sells 49% stake in Shanghai MRO JV to China Eastern Airlines for 680.5 million yuan.
The move will yield a one-off gain of around S$48.1 million, based on the S$60.2 million carrying value for Starco.
China Eastern Airlines, which will own 100 %
of Starco post-divestment.
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