China Southern Airlines decided to sell its 50% stake in MTU Maintainance Zhuhai to its parent China Southern Air Holding Co. for CNY1.61 billion ($235.5 million) in an effort to concentrate on its mainline business and reduce its debt. The deal requires approval from CZ's minority shareholders and relevant government organs. MTU Maintainance Zhuhai was launched in 2001 with registered capital of $63.1 million. CZ holds 50% while MTU Aero Engines GmbH owns the other half.
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