State sells stake in Brisbane airport

10/18/2008 9:27:36 AM

The Queensland Government in Australia has sold its interest in Brisbane Airport for US$195.5 million. Treasurer Andrew Fraser said the Government's 12.4 percent stake was being be sold to existing shareholders including Industry Funds Management, Schiphol Australia, entities of Colonial First State Asset Management and UniSuper. Fraser said the sale result reflected the willingness of investors to buy quality assets despite the world economic downturn.   CargonewsAsia

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