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Macquarie Airports backs out of Japan
22 May 2009
The Australian investment bank’s airports fund is to sell off its holding in Japan Airport Terminal, manager of Tokyo International Airport's terminals.
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Macquarie Airports
Japan Airport Terminal
JAT
Bristol Airport
Sydney Airport
Haneda
Tokyo International Airport
Macquarie Airports is planning to sell its entire holding in Japan Airport Terminal (JAT) back to the company as part of its share repurchase offer.
The Australian fund owns just over 20 million shares in JAT, which manages Tokyo International Airport’s three terminals, representing just under 20% of the company.
Should Macquarie’s entire interest be bought back at the offer price of ¥1,000 ($10.50) a share, the fund expects to realise at most A$260 million ($200 million). This includes benefits from hedges entered into.
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