China Eastern Airlines Corp., Singapore Airlines’s cargo unit and two other companies agreed to invest 2.05 billion yuan ($405 million) in China Cargo Airlines to support the takeover of two other freight carriers.

China Eastern will invest 1.05 billion yuan in China Cargo and receive a 51% stake, according to a Hong Kong stock exchange statement today. Singapore Air’s cargo unit and Concord Pacific, a unit of Taiwan-based EVA Airways Corp., will invest 328 million yuan each and get 16% apiece. China Ocean Shipping (Group) Co. will put up 348.5 million yuan for a 17% stake.

The investments will help China Cargo acquire the assets of Shanghai Cargo Airlines and Great Wall Airlines as Shanghai-based China Eastern consolidates freight operations following the takeover of Shanghai Airlines Co. in January. The move will also boost the carrier’s presence in Shanghai, helping it compete with a pending cargo venture between Cathay Pacific Airways. and Air China.