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- Quantas Airways Ltd agrees to Onex Corp deal - Editor, 19 February 2007 - No Comments yet
Onex finally convinced the largest airline in Australia to accept their offer of $11.1 billion, after being turned down previously. Quantas Airways agreed to the take over, only after Onex and its partners revised their conditions and settled for $5.60 a share. Due to the strict government regulations, foreign owners are limited to owning 49 percent of the airliner. Onex will receive a return investment of $445 million, with a 12.5 percent stake. Investors that are located outside of Australia may not own more than a quarter, which puts Macquarie Bank and Allco, as the major shareholders. A minor share will be owned by the Texas Pacific Group in San Francisco.
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