Rest Super appeals Dexus forced airport stake sale
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- Rest Super has filed an appeal against the court-ordered forced sale of its Melbourne Airport holdings.
- The legal dispute leaves the total 4.5% airport stake subject to divestment by late June.
- The appeal aims to protect the superannuation fund's independent infrastructure investments and member interests.
Rest Super has appealed a court ruling forcing the sale of its 4.5% Melbourne Airport stake managed by Dexus (ASX:DXS).
The forced sale followed a Supreme Court ruling that Dexus breached a three-decade-old shareholder agreement.
Other airport shareholders alleged that the funds manager shared confidential information with prospective buyers in 2024.
The disputed assets include a 2.8% indirect holding alongside an additional 1.7% direct holding.
Existing investors hold first rights to buy the assets if the group does not appeal by June 26.
Following the announcement, the Dexus share price was unchanged at $7.22.
Rest Super represents approximately 2 million workers and continues to manage its separate direct investments.
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