Chinese state owned company BOC Aviation Limited bought 12.67 percent of the Norwegian’s shares. The purchase happened one day before the US senate barred Chinese companies from American stock exchanges.
Norwegian has secured government loan guarantees of NOK 3 billion. On Wednesday, the company confirmed that the restructuring plan has been completed and that the state loan guarantee totaling NOK 3 billion has been approved. .
Leasing company Aercap Holdings in Ireland now becomes the largest owner in Norwegian. At the same time, the company BOC Aviation Limited will weigh 12.67 per cent of the shares in the company.
The company is through a large number of companies owned by the Chinese government, NRK reports.
«BOC Aviation is a company controlled by Sky Splendor Limited, which is again controlled by Bank of China Group Investment Limited, which is again controlled by Bank of China Limited, which is again controlled by Central Huijin Investment Ltd, which is again controlled by China Investment Corporation, which is owned by the People’s Republic of China, “Norwegian elaborates in the stock exchange announcement.
Norwegian reports in the report that they have laid a “good foundation for the future”, but that the coming months will be still demanding.
The USA barred Chinese companies from American stock exchanges
The US senate approved a bill today with unanimous consent and would require companies to certify that they are not under the control of a foreign government, according to The Print.
The bill would require companies to certify that they are not under the control of a foreign government.
U.S. lawmakers have raised red flags over the billions of dollars flowing into some of China’s largest corporations, much of it from pension funds and college endowments in search of fat investment returns.