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ABL advises on $370m airport stake acquisition

Banking & Finance, Corporate and M&A
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Arnold Bloch Leibler has acted for the Perron Group and The Infrastructure Fund on an offer to buy Auckland International Airports’ 24.6 per cent stake in North Queensland Airports (NQA) for approximately A$370m. NQA owns Cairns and Mackay Airports.

The ABL team was led by partner Philip Chester, who was supported by senior associate Scott Phillips and lawyer Vidushee Deora. The team advised on all legal aspects of the acquisition offer. ABL’s role in the transaction was referenced in Street Talk in the Australian Financial Review (click here to read).

In Auckland Airport’s announcement, chief executive, Adrian Littlewood, commented on the significance of the transaction: “The sale will enable Auckland Airport to focus attention on growing its New Zealand travel, trade and tourism businesses and to recycle the proceeds into supporting the significant step up in aeronautical investment at Auckland Airport over the next five years”.

ABL Partner Philip Chester further commented: “This transaction is an exciting one because it is a demonstration of support for NQA and the next stage of its development from two significant and experienced Australian infrastructure investors”. 

About Arnold Bloch Leibler 

Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, family businesses, high-net-worth individuals and international corporations. The firm also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.

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