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Sydney Airport gets $16.7 bln buyout bid; shares surge

Cash offer at 42% premium to last closing price on Friday
Offer contingent on UniSuper reinvesting 15% equity stake
SYDNEY, July 5 (Reuters) - A group of infrastructure investors has proposed one of Australia s biggest-ever buyouts, a A$22.26 billion ($16.7 billion) purchase of Sydney Airport Holdings Pty Ltd, taking a longer-term view on the pandemic-battered travel sector.
The proposal comes as record-low interest rates prompt pension funds and their investment managers to chase higher yields. The purchase, with an enterprise value of A$30 billion including debt, would allow them to reap financial benefits when borders reopen and travel demand rebounds.
If successful, the purchase of Australia s biggest airport would be one of the country s largest-ever by enterprise value in U.S. dollar terms, on par with the $22 billion purchase of mall operator Westfield Group by Unibail-Rodamco in 2017, Refinitiv data showed. ....

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Sydney Airport gets $16.7 bln buyout bid; stock surge misses offer price

Publishing date: Jul 04, 2021 • 6 hours ago • 3 minute read •
Article content
SYDNEY Sydney Airport Holdings Pty Ltd on Monday said a group of infrastructure investors has proposed a A$22.26 billion ($16.7 billion) buyout of the operator of Australia’s biggest airport, sending its shares surging albeit short of the offer price.
If successful, the deal would be Australia’s biggest this year, eclipsing the $8.1 billion spin-off of Endeavour Group Ltd and Star Entertainment Group Ltd’s $7.3 billion bid for Crown Resorts Ltd.
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Sydney Airport gets $16.7 bln buyout bid; stock surge misses offer price Back to video ....

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Sydney Airport gets $16.7 billion buyout bid as investors take longer-term view on travel

Sydney Airport gets $16.7 billion buyout bid as investors take longer-term view on travel
FILE PHOTO: Passengers walk with their luggage towards departure gates at Sydney International Airport in Australia, October 25, 2017. Picture taken October 25, 2017. REUTERS/Steven Saphore
July 5, 2021
By Jamie Freed and Scott Murdoch
SYDNEY (Reuters) -A group of infrastructure investors has proposed one of Australia’s biggest-ever buyouts, a A$22.26 billion ($16.7 billion) purchase of Sydney Airport Holdings Pty Ltd, taking a longer-term view on the pandemic-battered travel sector.
The proposal comes as record-low interest rates prompt pension funds and their investment managers to chase higher yields. The purchase, with an enterprise value of A$30 billion including debt, would allow them to reap financial benefits when borders reopen and travel demand rebounds. ....

Hong Kong , New South Wales , United Kingdom , Western Australia , Sydney International Airport , South Australia , City Of , Stephen Coates , Nikhil Kurian Nainan , Scott Murdoch , Steven Saphore , Christopher Cushing , Soumyajit Saha , Byron Kaye , Association Of Superannuation Funds Australia , Sydney Aviation Alliance , Crown Resorts Ltd , Star Entertainment Group Ltd , Endeavour Group Ltd , Sydney Airport Holdings Pty Ltd , Sydney International , Jamie Freed , Crown Resorts , Global Infrastructure Partners , Sydney Airport , Superannuation Funds ,

Sydney Airport gets $16.7 bln buyout bid as investors take longer-term view on travel

Publishing date: Jul 05, 2021 • 13 hours ago • 3 minute read •
Article content
SYDNEY A group of infrastructure investors has proposed a A$22.26 billion ($16.7 billion) buyout of Sydney Airport Holdings Pty Ltd, the operator of Australia’s biggest airport, taking a longer-term view on the pandemic-battered travel sector.
Record-low interest rates have led pension funds and their investment managers to chase higher yields. The purchase, with an enterprise value of A$30 billion including debt, would allow them to reap financial benefits when borders reopen and travel demand rebounds.
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Article content ....

Hong Kong , New South Wales , United Kingdom , Western Australia , South Australia , City Of , Stephen Coates , Nikhil Kurian Nainan , Scott Murdoch , Christopher Cushing , Soumyajit Saha , Byron Kaye , Association Of Superannuation Funds Australia , Sydney Aviation Alliance , Crown Resorts Ltd , Star Entertainment Group Ltd , Endeavour Group Ltd , Postmedia Network Inc , Sydney Airport Holdings Pty Ltd , Sydney Airport , Crown Resorts , Global Infrastructure Partners , Superannuation Funds , Western Sydney , Aviation Alliance , Heathrow Airport ,

Sydney Airport : gets $16.7 bln buyout bid as investors take longer-term view on travel

Sydney Airport : gets $16.7 bln buyout bid as investors take longer-term view on travel
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