Sydney Airport indicators $17.5 billion buyout deal, continues to suggest supply By Reuters

0

© Reuters. FILE PHOTO: International travelers arrive at Sydney Airport after coronavirus disease (COVID-19) eases border restrictions. For the first time since then, fully vaccinated Australians from overseas are allowed to enter Sydney without quarantine

(Reuters) – Sydney Airport Holdings signed a deal on Monday to execute a plan for an infrastructure group to buy the airport operator for A $ 23.6 billion ($ 17.46 billion), making it one of the largest acquisitions of all Times in Australia makes.

The Sydney Airport board of directors said in a statement that it unanimously recommended the takeover bid from the Sydney Aviation Alliance (SAA) and will hold a planning meeting in the first quarter of 2022.

“The Sydney Airport Boards believe the outcome reflects reasonable long-term value for the airport and unanimously recommend the proposal to securityholders,” said Chairman David Gonski.

The transaction is dependent on an independent expert opinion, approval from 75% of the airport operator’s shareholders, and the green light from the competition authority and the Foreign Investment Review Board, a process that can take months.

The deed also provides for reimbursement fees of A $ 150 million if terminated by either party.

In September, the sale of Australia’s largest airport operator moved closer after the SAA bid consortium received due diligence permission after sweetening its takeover offer to A $ 23.6 billion.

SAA consists of the Australian investors IFM Investors, QSuper and AustralianSuper as well as the US-based Global Infrastructure Partners.

($ 1 = 1.3517 Australian dollars)

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price, meaning that prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this information.

Fusion Media or any other person involved in Fusion Media assumes no liability for any loss or damage that might arise from reliance on the information contained on this website, including data, prices, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment.

You might also like

Leave A Reply

Your email address will not be published.