Australia's Dexus says court clears forced airport-stake sale

Dexus

12/06/2026 06:10

    June 12 (Reuters) - An Australian court has removed injunctions against the forced sale of a roughly 27% stake that Dexus DXS.AX manages on behalf of some shareholders in the Melbourne and Launceston airports, the firm said on Friday.
The real asset manager said the shareholders have until June 26 to file an appeal for a further injunction. 
Here are some details of the case: 
The New South Wales Supreme Court dissolved injunctions that Dexus had won in May 2025 against airports' owner Australia Pacific Airports Corporation's notice to sell the stake to existing shareholders, alleging breach of confidentiality agreements
A valid notice starts a process requiring those shares to be offered to its existing shareholders at an assessed fair market value.
Dexus said on Friday that a lawyer for non-Dexus shareholders argued that proceeding with the forced sale poses practical risks while an appeal is pending.
The company has recently initiated a review of its infrastructure business, which represents A$7.3 billion of funds under management as of 2025-end. 
Dexus shares pared gains to trade 1.4% higher at A$5.890 as of 0431 GMT.

(Reporting by Sneha Kumar in Bengaluru; Editing by Harikrishnan Nair)
((Sneha.Kumar@thomsonreuters.com;))