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MinterEllison has advised Auckland International Airport (AIA) on the $370 million sale of its 24.5 per cent stake in Cairns and Mackay Airports.
A major part of the deal included AIA's joint venture and banking arrangejments, which MinterEllison said were the key obstacles to navigate.
The process took 12 months to complete with MinterEllison working alongside the AIA in-house legal and finance teams to provide commercial and tax advice.
Four separate transactions were required as AIA leveraged itself for the final sale to other shareholders.
AIA was pleased to secure the deal, which it expects will maximise its return on investment.
Cairns and Mackay Airports are owned and operated by North Queensland Airports (NQA).
Cairns is Australia's seventh busiest for international passengers, providing air links to a range of international and domestic locations.
The MinterEllison team was led by partner Gary Goldman and consisted of included Anthony Portas, Darren Sumich, Tom Fletcher, David Moore, Mark Forman, Craig Bowie, Steven Grant, Mellissa Lai, Manisha Pannu and Sophie Qu.
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