(Reuters) -Australia’s Macquarie Group said on Wednesday that its asset management arm has acquired stakes in Bristol, Birmingham and London City airports from Ontario Teachers’ Pension Plan for an undisclosed amount. The investment bank is buying a 55% stake in Bristol Airport, a 26.5% stake in Birmingham Airport and a 25% interest in the London […]
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Australia’s Macquarie picks up stakes in UK airports
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(Reuters) -Australia’s Macquarie Group said on Wednesday that its asset management arm has acquired stakes in Bristol, Birmingham and London City airports from Ontario Teachers’ Pension Plan for an undisclosed amount.
The investment bank is buying a 55% stake in Bristol Airport, a 26.5% stake in Birmingham Airport and a 25% interest in the London City Airport.
The deal for London City Airport, the capital’s fifth-biggest, was first reported by Sky News earlier this month.
Through the investment, Macquarie is committed to supporting the airports, which serve over 25 million passengers annually, over the long term by expanding their route networks and further enhancing passenger experience, among other initiatives, the company said in a statement.
The London City Airport deal has reached financial close, Macquarie said, adding that the acquisitions for the other two airports are expected to conclude by the fourth quarter of fiscal 2025.
(Reporting by Sneha Kumar in Bengaluru; Editing by Mohammed Safi Shamsi)