A PYMNTS Company

Singapore: Airline nearly doubles Virgin stake in response to Tiger takeover

By  |  April 24, 2013

Just one day after regulators approved Virgin Australia’s buyout of Tiger Airways, Singapore Airlines has quickly moved in to nearly double its control in Virgin Australia Holdings Ltd. Virgin notified the Australian Securities Exchange that Singapore Airlines has upped its stake in the company to 19.9 percent from 10 percent in a deal made for $122 million. Additionally, the transaction bumps Air New Zealand from the top-spot as Virgin’s most powerful shareholder. The Australian Competition and Consumer Commission announced on Tuesday that it would not contest the Tiger buyout; Virgin Australia how must earn approval for the deal from the Foreign Investment Review Board to finalize the transaction.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Business Spectator

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.