Ansett builds further Hazelton stake

By Phil Boeyen, ShareChat Business News Editor

Wednesday 3rd January 2001

Ansett Australia continues to build its ownership of Hazelton Airlines despite takeover opposition from the Australian Competition and Consumer Commission.

The Air NZ (NZSE: AIRVA) subsidiary is edging its way to 36% ownership of the NSW regional airline after founding shareholders Max and Laurel Hazelton yesterday agreed to sell their family interests in the company.

Ansett's current offer of A$1.35 per share is higher than a rival Qantas bid of A$1.20, although Qantas has indicated it will provide details of a revised offer once acceptable regulatory clearance is obtained.

Both companies are trying to allay regulatory fears that any takeover of Hazelton would lead to a dominant position in the New South Wales airline market, as well as majority control of the take-off and landing slots at busy Sydney airport.

Ansett spokesman, Ron Rosalky, says his airline is looking forward to working constructively with the ACCC to achieve a satisfactory outcome for Hazelton shareholders and customers.

"Ansett has a long-standing commercial relationship with Hazelton and we remain absolutely committed to the integrity of that airline and the services it provides to regional New South Wales."

Ansett's current offer is conditional on gaining 50.1% of Hazelton. It currently has 35.556% compared with around 20% for Qantas.

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