APA holds 12.45% Qantas voting power

Monday, 27 Apr, 2007 0

A report in The Age says that APA, the consortium that is hoping to take over Qantas Airlines, said Thursday that it holds voting power of 12.45% in the airline.

If APA’s voting power in Qantas increased to more than 50% after April 27, there would be an automatic statutory extension of the offer on May 4 for 14 days, APA director Bob Mansfield said earlier this week.

APA has received acceptances for its offer amounting to 27.8% of shares, an improvement from its last substantial holding notice posted last week, which showed it had acceptances relating to 27.48% of Qantas shares.

APA comprises Macquarie Bank Ltd, Allco Equity Partners Ltd, Allco Finance Group Ltd, Texas Pacific of the US and Onex of Canada, has made an offer worth $11.1 billion for Qantas.

Report by The Mole



 

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John Alwyn-Jones



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