Super funds make $22bn bid for Sydney Airport australianaviation.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from australianaviation.com.au Daily Mail and Mail on Sunday newspapers.
Consortium offers $16.7 billion for Sydney Airport PUBLISHED BY 2 days ago
A consortium of investors is offering A$22.26 billion ($16.7 billion) for Sydney Airport Holdings Pty Ltd, betting on long term recovery of the travel sector after the pandemic.
The consortium offered A$8.25 (US$6.20) a share for the operator of Australia’s busiest airports, the company said in a stock exchange filing on Monday. Sydney Airport shares rose as much as 40 per cent to A$8 following the offer.
Members of the consortium include Australian investment manager IFM Investors, pension fund QSuper and Global Infrastructure Management (Australia), an affiliate of New York-based asset manager Global Infrastructure Partners.
Is Sydney Kingsford-Smith Airport on Sale? airwaysmag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from airwaysmag.com Daily Mail and Mail on Sunday newspapers.
Sydney Airport (ASX:SYD) takeover bid indicates funds are looking forward
Infrastructure funds are looking beyond the pandemic with the Sydney Airport bid…
Mitchell Lawler is a site writer at The Motley Fool Australia. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. Mitchell is now completing his studies in finance and wealth management and hopes to help others in their investing journey.
Latest posts by Mitchell Lawler (see all)
|
Sydney Airport
Holdings Pty Ltd(ASX: SYD) shares are taking a breather today following a massive 33.9% jump yesterday.
The Sydney Airport share price took flight on Monday after the company received a $22.6 billion all-cash buyout offer from a consortium of infrastructure investors.
Jul 06 2021
As Sydneysiders brace for another week of lockdowns a bidder has emerged for Sydney Airport, surprising the market and sparking speculation aplenty
-Highly conditional cash offer of $8.25 a share considered reasonable by brokers
-Timing of an earnings recovery for Sydney Airport remains highly uncertain
-Competing bids cannot be ruled out, given appeal of long-duration infrastructure assets
By Eva Brocklehurst
A bidder has rattled the cage of Sydney Airport ((SYD)), disturbing the solitude imposed by the pandemic, although it is unlikely to bring on a rush of international passengers.
Ord Minnett suspects the offer caught management off guard but at first glance it appears to be fair. Sydney Airport is an irreplaceable infrastructure asset and the broker points out