Malaysia Airlines (MH, Kuala Lumpur International) has announced it will dispose of its indirect 8.84% shareholding in Asian Global Distribution System (GDS) provider, Abacus International, in a sale that is expected to be completed by later this year. As part of the streamlining of its businesses, Malaysia Airlines is divesting itself of non-core assets.
Malaysia Airlines and ten other major Asian airlines including ANA - All Nippon Airways (NH, Tokyo Haneda), Cathay Pacific (CX, Hong Kong International), China Airlines (CI, Taipei Taoyuan), EVA Air (BR, Taipei Taoyuan), Garuda Indonesia (GA, Jakarta Soekarno-Hatta), Dragonair (Hong Kong International), Philippine Airlines (PR, Manila Ninoy Aquino International), Royal Brunei Airlines (BI, Bandar Seri Begawan), SilkAir (SLK, Singapore Changi), and Singapore Airlines (SQ, Singapore Changi) are selling their combined 65% stake in Abacus to Sabre Corporation, which currently owns 35% of Abacus.
Subject to certain regulatory approvals, the transaction will result in Sabre emerging as Abacus' sole shareholder.
