Dexus Can Appeal Court Ruling in APAC Case by June 22

MT Newswires Live

06/09

Dexus (ASX:DXS) shareholders can appeal to the New South Wales Court of Appeal before June 22, following its loss in a court bid to block the sale of its stake in Melbourne Airport last month, according to a Friday filing with the Australian bourse.

The New South Wales Supreme Court ruled that the real estate investment firm had breached confidentiality agreements with Australia Pacific Airports, which owns Melbourne's Tullamarine airport and the Launceston airport in Tasmania. Dexus holds roughly a 27.3% stake in Australia Pacific Airports.

Dexus has agreed to cover the legal costs of the Dexus Bloc shareholders in relation to the appeal.

The company has also launched a strategic review of its infrastructure funds that came in from its 2023 acquisition of AMP Capital's real estate and infrastructure platform.

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