Qantas down 4% after regulator delays Alliance Aviation deal review

Alliance Aviation Services

20/03/2023 03:32

** Shares of Qantas Airways  QAN.AX  skid as much as 3.7% to
A$6.23, on track to post their biggest intra-day percentage fall
since March 14
    ** Australia's competition regulator has delayed a review of
a proposed A$610.8 mln ($409.30 mln) acquisition of charter
operator Alliance Aviation Services  AQZ.AX  by Qantas Airways 
    ** Qantas, a 19.9% shareholder in Alliance, launched a
takeover bid in May last year, offering shares worth A$4.75 for
each Alliance share held 
    ** Australian Competition & Consumer Commission (ACCC) has
delayed a review of proposed acquisition until April 20 
    ** This marks the fourth delay so far by ACCC 
    ** QAN up 7.7% YTD, as of last close 
    



($1 = 1.4923 Australian dollars)

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))