Deal Allows Qantas Takeover To Take Off

Law360, New York (March 6, 2007, 12:00 AM EST) -- The Australian government has approved the $8.6 billion (A$11.1 billion) takeover bid for Qantas Airways Ltd. by Airline Partners of Australia after APA promised to expand service internationally and throughout Australia.

The government negotiated a legally enforceable deed with APA before agreeing to support the takeover on Tuesday, according to Peter Costello, treasurer for the Commonwealth of Australia.

Under the terms of the deed, Qantas must expand internationally and within Australia, invest substantially in new aircrafts, keep maintenance jobs in Australia and provide customers with a...
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