SQ lifts stake in Virgin to 19.9%

SQ lifts stake in Virgin to 19.9%
By admin


Singapore Airlines will lift its stake in Virgin Australia to 19.9% after receiving approval to acquire 255 million shares from its alliance partner.

The Foreign Investment Review Board (FIRB) said it will raise no objection to the $122.6 million deal with the transaction expected to be completed by the end of next week.

Singapore initially acquired a 10% stake in Virgin Australia in late 2012 through an injection of funds with the additional shares acquired from Virgin.

Air New Zealand owns just under 23% of Virgin Australia with Etihad 10%.

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