Ansett Australia is close to completing its takeover of New South Wales regional carrier Hazelton Airlines, with its purchase of more than 90% of stock in the smaller carrier allowing it to undertake the compulsory purchase of all remaining shares.
Ansett announced on 21 March that it had passed the 90% mark, and was due last week to complete payments to those Hazelton shareholders accepting its AU$1.60 (80c) per share offer. It expects the compulsory acquisition process to be completed within six weeks.
Qantas, which had held conditional options on 20% of Hazelton, surrendered those when it withdrew from the bidding war in January.
Source: Flight International
