Queensland Airports Limited auction kicks off; process letters out

Almost a year after Queensland Airports Limited’s shareholders called in bankers to sell a 74.25 per cent stake in the $140 million-a-year portfolio that includes airports at Gold Coast, Townsville, Mount Isa and Longreach, the auction is officially under way.

Street Talk understands sell-side advisers Barrenjoey and Macquarie Capital began mailing out process letters for the sale process at the weekend. Prospective bidders have been told non-binding indicative offers will be due in late July.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at [email protected]

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at [email protected]

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