Victor Li Wins Bid for Stake in Air Canada

Victor Li, a son of Asia’s richest businessman, beat New York investment firm Cerberus Capital Management in a bid to invest in Air Canada to help the airline emerge from bankruptcy protection, the airline said.

Li’s private investment company Trinity Time Investments was chosen to invest $486 million for a 31% stake in Canada’s largest airline, Air Canada said. Li would fund the purchase personally or from family holdings, it said.

Li, a Canadian citizen, is the elder son of Li Ka-shing, who owns the world’s biggest port operator and invests in telecommunications, property and supermarkets worldwide.