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BEIJING, Nov 24 (Reuters) - China's HNA Group is to acquire a 23.7 percent stake in Azul Brazilian Airlines for $450 million, according to a statement posted on the Chinese company's website.
The deal will allow HNA Group to become the single largest shareholder of Azul, Brazil's third largest airline, with the aim of benefiting from substantial passenger traffic between China and Brazil. (Reporting by Beijing Monitoring Desk)