Property giant Dexus could be forced to sell its prized stake in Melbourne Airport after its heavyweight co-investors, including some of the nation’s biggest superannuation funds, claim it inappropriately used confidential information to attract new investors.
The ugly stoush with Melbourne Airport’s board is likely to end up in court and comes after Dexus tried to sell down part of its 27 per cent holdings in Australia Pacific Airports Corporation, which also owns Launceston Airport. The legal battle means Dexus’ aspirations of transforming itself from office and industrial property landlord to a manager of physical assets such as shopping centres, airports and other infrastructure is under threat.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Bluesky: @jennywiggins.bsky.social Email Jenny at jwiggins@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
