The Australian infrastructure company found to be holding hundreds of people in Papua New Guinea illegally has agreed to a buy-out by Spain's Ferrovial.
Broadspectrum Limited suspended trade in its shares after PNG's Supreme Court ruled that detaining asylum seekers and refugees flown by Canberra to Manus Island was unconstitutional.
Ferrovial has offered $US586 million to buy out Broadspectrum, which has the contracts to run the Manus detention centre as well as Australia's camp in Nauru.
Ferrovial's offer, which had initially been resisted, closes on May 2nd.
The PNG government said the Manus camp would close, but has given no date yet.
Broadspectrum said the developments in PNG had increased uncertainty over its contracts with Australia's immigration authorities.
Canberra said none of asylum seekers it sent to Manus three years ago would be allowed to return to Australia.