Processing timeline
22
days
Filed
16 June 2026
Acquirer(s)
SAS Trustee Corporation ABN - 29 239 066 746
Target(s) or Vendor(s)
Australia Pacific Airports Corporation Limited ABN - 89 069 775 266
Other parties
Australia Pacific Airports (Melbourne) Pty Limited ABN - 62 076 999 114, New South Wales Treasury Corporation ABN - 99 095 235 825, Australia Pacific Airports (Launceston) Pty Limited ABN - 79 081 578 903
SAS Trustee Corporation is acquiring additional shares in Australia Pacific Airport Corporation, owner and operator of Melbourne and Launceston Airports. This share acquisition increases STC's 18.47% interest, occurring under a pre-emptive regime after a Supreme Court decision for Dexus Capital Investment Services Pty Ltd to divest shares.
SAS Trustee Corporation ( STC ) is the trustee of the New South Wales State Superannuation Scheme, constituted by the State Authorities Superannuation Act 1987 (NSW) and acts as an institutional investor, investing in a diversified portfolio of assets. STC currently holds an 18.47% interest in the Australia Pacific Airport Corporation ( APAC ), which holds long-term leases to own and operate Melbourne Airport (Victoria) and Launceston Airport (Tasmania). Following a decision of the Supreme Court of New South Wales in May 2026, the APAC shares held by Dexus Capital Investment Services Pty Ltd are to be divested in accordance with the process contained in the Shareholders’ Deed which makes the shares available to existing, non-defaulting shareholders (including STC) under a pre-emptive share acquisition regime. By way of this process, STC proposes to acquire additional shares in APAC.