[MarkR]

Chinese conglomerate Nanshan Group is poised to emerge as a major shareholder in Virgin Australia after agreeing to purchase a 19.9 per cent stake from Air New Zealand for around $232 million.
The deal, first reported by The Australian Financial Review, was announced to the New Zealand Stock Exchange on Friday morning. Nanshan will join the ranks of Singapore Airlines, Etihad Airways, fellow Chinese group HNA and Sir Richard Branson's Virgin Group as an investor in the Australian carrier's complicated register.
Nanshan has bought the stake for 33¢ a share, a premium to the 30¢ a share price paid by HNA to take a 13 per cent stake in Virgin in a share placement last week. The share placement remains subject to Chinese regulatory approval, but Virgin has announced its intention to build its stake to 19.9 per cent over time. The Nanshan purchase of the Air New Zealand stake also remains subject to regulatory approval.

Read more: http://www.smh.com.au/business/aviat...#ixzz4B8E0osRY