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Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login All three shareholders of North Queensland Airports, owner of the Cairns and Mackay airports, have opted to offload their stakes in a $3 billion auction that is slated to launch this side of Christmas, Street Talk can reveal. It is understood JPMorgan Asset Management’s IIF, owner of 66 per cent of the asset; Macquarie-run The Infrastructure Fund, owner of 27 per cent; and late WA billionaire Stan Perron’s Perron Investments which holds 7 per cent of NQA have joined the Macquarie Capital-advised sale process.
The airports were IIF’s only Australian asset, while TIF has been winding back its portfolio to meet redemptions. Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login Introducing your Newsfeed Follow the topics, people and companies that matter to you.
Revenue from the bank’s Wall Street operations also defied analysts’ estimates, with investment-banking fees surging 31 per cent..
