Qatar Airways exits Cathay Pacific stake after eight years

Cathay Pacific Airways Ltd. will buy back the shares owned by Qatar Airways after the Middle Eastern airline decided to unwind a holding that it held for the past eight years.

Hong Kong-based Cathay will buy back Qatar’s 9.57% holding for a total consideration of HK$6.97 billion ($896 million), Cathay Pacific said in a stock exchange filing. The deal will need to be approved by at least 75% of its shareholders.