NYK sells Nippon Cargo Airlines to ANA Holdings

Nippon Yusen Kabushiki Kaisha (NYK), Shipping and logistics company has signed a memorandum of understanding with ANA Holdings to transfer the entire shares of its cargo airline Nippon Cargo Airlines (NCA). While no acquisition price has been announced yet, ANA will acquire all the shares of NCA from NYK in a single transaction. A particular acquisition method (scheme) and other terms and conditions will be determined through continued discussions. The deal is likely to be closed by October 1, 2023 or a date to be separately agreed by NYK and ANA, the release said. NCA has a capital stock of