New Zealand's largest airport group, the Auckland International Airport Ltd., is looking to purchase a stake in two major airports in Australia's Queensland, in order to benefit more from Asian travel. The deal will cost the former a total of A$133 Million ($123 Million).

As confirmed by the Auckland based firm, the buying of the 25% stake held by Westpac Banking Corp. in North Queensland Airports is expected to reach a final closure on January 13. The details were confirmed by the group to the New Zealand Stock Exchange.

The Mackay and Cairna airports, which are operated by North Queensland, collectively handle about 3.7 million domestic and overseas flights every year.

"It’s one of the things you would be most comfortable with them doing outside of investing in their current business", said Stephen Walker, head of asset management at Goldman Sachs JBWere Ltd. in Auckland.

To begin with, the takeover will be funded through debts, but subsequently, the funding strategy would most probably involve a mix of equity and debt.

The takeover has been confirmed by all the parties involved.