Global logistic company DHL Express will invest HK$2.9 billion to expand its facilities in Hong Kong as it collaborates with Airport Authority Hong Kong.
The logistics firm will plow the investment into its DHL Central Asia Hub which is expected to operate in 2022.
DHL Express chief executive Ken Allen said the firm has it's parent support and won't need to raise funds from the public.
Meanwhile, Cathay Pacific (0293) will acquire 36.27 million shares of AHK Air Hong Kong from a DHL subsidiary, resulting in Air Hongkong becoming a wholly owned subsidiary of Cathay.
Cathay said the acquisition marks a significant long-term strategic investment for the airline.
The deal, worth HK$36.27 million, is expected to be completed by the end of next year.