Virgin Blue May Sell A$400 Million of New Shares, Age SaysBy...

Virgin Blue May Sell A$400 Million of New Shares, Age Says


By Rebecca Keenan

July 13 (Bloomberg) -- Virgin Blue Holdings Ltd., may sell A$400 million ($312 million) of shares to strengthen its balance sheet, the Age newspaper reported, without saying where it got the information.

It may have to sell shares to a cornerstone investor, the report said. Virgin Group Ltd., holder of 22.5 percent of Virgin Blue, may not buy stock in a sale, the Age said.

Goldman Sachs JBWere Pty may help to organize the share sale that might be announced Wednesday, the newspaper said. Goldman and Virgin Blue declined to comment, it reported.