All Nippon Airways (ANA) Holdings has revealed some major investment moves, as it confirmed the purchase of a 9.5% strategic stake in Philippine Airlines (PAL) and placed an order for 38 narrowbody aircraft from Airbus and Boeing. ANA’s 9.5% stake in PAL Holdings is valued at $95 million. The shares will be acquired from Trustmark Holdings Corp., which is PAL’s largest shareholder and is owned by the Lucio Tan family. The deal is “subject to certain closing ...

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