Genting HK drops aircraft acquisition deal

    Genting Hong Kong Ltd says it has terminated a transaction in connection to the acquisition of an aircraft in relation to its luxury cruise and travel business, according to a filing to the Hong Kong Stock Exchange.

    The luxury cruise operator said that it anticipated “that the Purchaser’s conditions precedent under the Agreement cannot be fulfilled or satisfied on or before the Final Delivery Date, on 24  March 2016,” and thus the “Purchaser and the Seller have entered into the Termination Agreement to terminate the Agreement.”

    Genting HK announced in December last year that it had entered into an agreement to buy the aircraft for approximately US$23 million from Genting Singapore Aviation III Ltd.