Virgin Group's Baxby Sees Qantas as Ripe for Private-Equity Takeover--Report -- FEC

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Date Posted: 02:47:49 07/14/12 Sat
Author: 14/07/2012 12:52PM
Subject:

Virgin Group's Baxby Sees Qantas as Ripe for Private-Equity Takeover--Report

Virgin Group's Baxby Sees Qantas as Ripe for Private-Equity Takeover--Report
14/07/2012 12:52PM
SYDNEY--Richard Branson's right-hand man says a takeover of Qantas Airways (QAN.AU) is "the perfect scenario for private equity" because of a slump in its share price and its Jetstar assets, the Sydney Morning Herald reported Saturday.

Virgin Group co-chief executive David Baxby said it would make sense for a firm such as Texas Pacific Group, which made an unsuccessful A$11 billion bid for the Australian airline in 2006, to be "running the numbers...because it has come down so far, so fast...

"Structured the right way, with the right management team and the right vision [Qantas] is the perfect scenario for private equity," Mr. Baxby was quoted as saying. "TPG, the people who were involved last time, must be opening the books again and having another look at it because those guys have a fabulous track record in making money in aviation."

For more details visit: www.smh.com.au

(END) Dow Jones Newswires

July 13, 2012 22:52 ET (02:52 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

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