venus williams blog: Chinese Businessman Bought up Germany's Parchim Airport

Pang Yu-liang, chairman of the board of LinkGlobal Logistics Co Ltd, beat 10 other global competitors, including FedEx, Hamburg Airport, and Emirates Airline, in an international tender to buy Parchim Airport in Germany at a cost of 1 billion yuan (US$130 million).

It is said to be the first time a Chinese company has wholly owned an European airport, which is located in Schwerin, not far from Hamburg and Berlin.

According to the deal, LinkGlobal has 100 percent property rights to Parchim Airport and its facilities, as well as permanent ownership of land in an economic cooperation zone affiliated to the airport.

The purchase will help Pang further expand the logistics network of LinkGlobal, a Beijing-based company. It has a network covering more than 200 cities in China and about 90 countries worldwide.