Grandstar which was a joint venture with Korean Airlines and Sinotrans has been grounded since late 2011 and has a single 747-400F.
Uni-Top previously had expressed interest in acquiring a stake in Lufthansa Cargo's ill fated joint venture Jade International.
While it is not know what Uni-top plans for Grandstar are, it does currently utilize 3 747s for cargo flights from Wuhan to India, Japan, and Luxemburg.
The deal requires approval of Chinese aviation authorities before taking effect.
Photo © Weimeng