google-site-verification: googlec7193c3de77668c9.html

Aussie giant Macquarie takes off with stake in London City Airport | Money News

Skynews london city airport 6811201.jpg


The Australian financial giant Macquarie is close to snapping up a stake in London City Airport – the capital’s fifth-biggest – amid a wider shake-up in its ownership structure.

Sky News understands that Macquarie Asset Management is nearing a deal to buy a minority interest in the Docklands airport from at least one of its cluster of Canadian shareholders.

Industry sources said City Airport was preparing to make an announcement about changes to its shareholder base as soon as this week, although the Macquarie deal may take slightly longer to finalise, they added.

Money latest: Why you probably should not book a hotel on your laptop

The valuation of any agreement was unclear on Monday.

It follows reports earlier this year that Omers and AIMCO, two big Canadian pension funds, had hired bankers at Morgan Stanley to advise them on the sale of their interest in the London airport.

Macquarie was named at the time as a potential buyer of the 25% stake owned by Ontario Teachers’ Pension Plan (OTPP).

Read more from Sky News:
US-China hold trade war talks in London
River Island owners draw up rescue plan

London City Airport has been given permission to increase passenger numbers from 6.5 million annually to 9 million, although it was denied the opportunity to extend its Saturday operating hours.

It is now seeking other regulatory concessions in order to accelerate its growth, with Britain’s aviation capacity featuring prominently on the UK’s economic priority list.

Macquarie has been a prolific investor in UK airports, having announced the sale of AGS – comprising Aberdeen, Glasgow and Southampton airports – earlier this year.

Spokespeople for London City Airport, Macquarie and OTPP declined to comment.


Source link

Views: 2

See also  Nike says US trade policies could cost it $1bn

Check Also

SSE Airtricity electric bills to increase by over £70 a year

SSE Airtricity domestic customers in Northern Ireland will see their bill rise by over £70 …

Padwick Farm livery sees bookings rise as horse owners struggle with costs

“We’ve experienced someone struggling to put food on the table for their children and they …

‘We give up to £400 to a honeymoon fund’: How much should you gift at a wedding?

Being a wedding guest can be expensive – there’s travel, accommodation, you might even treat …

Leave a Reply

Available for Amazon Prime
revolutionizing connectivity : how 5g is changing our world. Ford mustang 1995 widebody kit with wheels speedstar models. Bp batam menyambut baik kunjungan pengurus badan perlindungan (bp) lansia indonesia wilayah batam.