Hong Kong, Aug. 29 -- The Australian federal government has been directly approached by Sydney-headquartered investment fund, Renaissance Partners, with an offer to acquire Regional Express (Rex). Read More The fund's first bid was eliminated in an earlier process. Renaissance is proposing relocation of Rex's bases to Canberra and Darwin. "The offer ensures Rex stays Australian-owned, is relisted on the Australian Stock Exchange and has a sustainable long-term future without more public bailouts," Renaissance said in a statement. Last February, the federal government said it was prepared to save the airline if no private buyer could be found to maintain connectivity to rural and remote regions.
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