Airline Partners Australia
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Airline Partners Australia (APA) is a consortium that made a AU$5.60 per share takeover offer for Australian airline Qantas in December 2006, which received the endorsement of the Qantas board, in the absence of a better offer.
The consortium comprises Texas Pacific Group, Macquarie Bank, Allco Finance Group, Allco Equity Partners and Onex Corporation. The consortium is structured to comply with the current ownership laws for Qantas, however many public figures and politicians such as Barnaby Joyce have expressed concerns about privatising the company.[1]
The takeover bid endorses the current management and practices, and appears to comply with the current restrictions on foreign ownership of Qantas (it is required to be at least 51% owned by Australians).[2] The offer has aroused significant discussion in Australia, including by many people who did not realise that the company could be up to 49% foreign owned under its current structure, traded on the Australian Stock Exchange.[3]
[edit] References
- ^ "No special treatment for Qantas, says Joyce", News.com.au, January 11, 2007. Retrieved on 2007-01-13.
- ^ Macquarie Bank (14 December 2006). Qantas Board recommends Airline Partners Australia cash offer. Press release. Retrieved on 2007-01-13.
- ^ Geoffrey Thomas. "Qantas deal is do or die, says think tank", The Australian, January 12, 2007. Retrieved on 2007-01-13.
[edit] External links
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