China's Shenzhen Airlines will auction 65 percent of its equities in Shenzhen, south China's Guangdong Province. With a start price of RMB 1.6 billion yuan, the deal will be the biggest ever property exchange in China's civil aviation industry.

It is mentioned in the auction bulletin that bidders should have a net asset of no less than 1.5 billion yuan and should provide its audit report of 2004.

30 percent of the transaction value should be paid within five days after the signing of the deal and another 50 percent should be paid within 60 days (before the alternation of the owner), the rest (20 percent of the transaction value) should be paid within 45 days after the change of the owner.

By People's Daily Online