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


© 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)

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