Auckland International Airport in New Zealand has agreed to purchase a 24.55% stake in North Queensland Airports (NQA) for A$132.8m (US$123m) from Westpac Bank.
NQA is the operator of Cairns Airport, Australia's seventh-busiest international airport, and Mackay Airport, which is a domestic airport located in Queensland.
The deal is expected to be finalised on 13 January and is conditional on NQA obtaining the consent of its financiers.
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