Business
Bain muscles Branson out of half his Virgin stake – Sydney Morning Herald
Virgin Australia’s new owner Bain Capital has muscled co-founder Richard Branson out of his 10 per cent shareholding in the airline, with the billionaire entrepreneur…
“Im delighted that Virgin Australia is ready for take-off once more, soaring out of administration, with a clear future direction to fly towards,” Mr Branson said in a statement.
“Were very optimistic about the future and enormously proud of all of the Virgin Australia team.”
The Queensland government’s investment arm QIC will meanwhile have a small equity stake through its $200 million support package to keep Virgin based in Brisbane. None of the parties would confirm the size of the government’s…
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