Perron in airport buy

AUCKLAND International Airport has offloaded its 24.6 per cent stake in North Queensland Airports to the infrastructure interests of West Australian billionaire Stan Perron for $370 million.

North Queensland Airports owns Cairns Airport and Mackay Airport, and the company has been owned by a consortium of which Perron Investments has been an existing investor. Other investors include JP Morgan Infrastructure and The Infrastructure Fund.

Auckland Airport chief executive Adrian Littlewood said the sale followed the completion of Auckland Airport’s strategic review.

Mr Perron has invested in resources, infrastructure and real estate.

Since leaving school at the age of 14 he has amassed an estimated $2.9 billion in wealth, starting his business career by running a fleet of taxis in Perth and building ice-skating rinks.