China Eastern to spend $439m for stake in Air France-KLM

China Eastern Air Holding Co said late on Thursday it will pick up a 10 percent stake in Air France-KLM Group for about 375 million euros ($439.4 million).

This is the Shanghai-based carrier's largest strategic investment and is expected to speed up its global expansion.

A wholly owned overseas arm of China Eastern has inked a share purchase agreement with the Paris-based airline for the purpose.