Auckland International Airport has announced it will sell its 24.6 per cent investment in North Queensland Airports (NQA) to existing investors for $370 million.
All NQA investors are entitled to purchase their pro rata share of Auckland Airport’s interest, Perron Investments and The Infrastructure Fund have already agreed to accept up to the entire offer.
Auckland Airport Chief Executive, Adrian Littlewood, said, “Following the completion of our strategic review in August 2017, we have undertaken discussions with both existing investors and third parties regarding a potential purchase of our interest in NQA.
“After an extensive process, we are very pleased to have reached a position that will result in a sale of our entire interest and that two existing and experienced infrastructure investors have agreed to support NQA in the next stage of its development.”
The sale will be subject only to securing necessary regulatory and counterparty approvals (if any) and completed in accordance with the requirements of the NQA security holders agreement.