Japan Airport Terminal To Buy Back 22% Of Own Shares

TOKYO (NQN)--Japan Airport Terminal Co. said Friday it will spend 22.05 billion yen to buy back about 22% of its outstanding shares through a tender offer.

Most will be purchased from Macquarie Group, which holds a leading stake of about 20% in the Japanese firm. The Australian group is expected to sell all 20,000,400 of its shares for 1,000 yen each.

The deal, which will take place between June 30 and July 28, was approved the same day at the Japanese company's general shareholders meeting.