Sydney Airport receives record $16 billion buyout bid proposal
An infrastructure consortium proposed a A$22.3 billion ($16.8 billion) buyout bid for the operator of Sydney International Airport (SYD). The proposal makes one of the largest Australia’s buyout bids ever.
Sydney Airport (SYD) announced it got an unsolicited, conditional, and non-binding proposal from the consortium to acquire 100% of SYD shares at an indicative A$8.25 cash per stapled security. The proposal comes when interest rates are at record low due to the ongoing pandemic.
“The Boards are undertaking detailed analysis of, amongst other things, whether the proposal is reflective of the underlying value of the airport given its long-term remaining concession and the expected short-term impact of the pandemic,” read the Sydney Airport statement published on July 5, 2021.
The consortium comprises IFM Investors, Conyers Trust Company, QSuper Board, and Global Infrastructure Management.
Sydney Airport is the largest airport in the country and Australia’s one of the most important infrastructure assets. Total passenger traffic in May 2021 was 1,435,000 passengers, down by 59.1% on the corresponding period in 2019. Domestic passenger traffic totalled 1,347,000 in May 2021, down 39.2% against the 2019 levels, as per SYD data.
Man arrested after firing shots in departure area at Canberra Airport
Police are investigating after a man fired several rounds of shots at Canberra Airport in Australia ...
Heathrow says travel disruption is easing due to passenger cap
Heathrow claims the cap on passenger numbers has helped the airport to weather the travel chaos....
Brisbane Airport cuts carbon neutrality target by 25 years
One of the largest airports in Australia, Brisbane Airport (BNE), significantly accelerate its plans of reaching carbon...
Power outage at Perth Airport causes flights delays and cancellations
Perth Airport suffers power outage as strong winds and storm ravage Western Australia, causing flight delays and cancell...