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Auckland Airport agrees to purchase a stake in Cairns and Mackay Airports

11-Jan-2010 9:36 AM

New Zealand's Auckland International Airport agreed (11-Jan-2010) to purchase a 24.55% stake from Westpac Bank in North Queensland Airports (NQA), the operator of Cairns Airport and Mackay Airport for USD123.4 million. The proposed purchase, which is due to settle on 13-Jan-2010, is conditional on NQA obtaining the consent of its financiers to the proposed transaction prior to that date. [more]