Their offer is contingent on UniSuper, Sydney Airport's largest shareholder with a 15% stake, agreeing to reinvest its equity interest for an equivalent equity holding in the consortium's vehicle. We pay respect to Elders past, present and emerging, and recognise the continuation of cultural, spiritual and educational practices of First Nation peoples throughout Australia. Edwina Pickles, The takeover parties are offering $8.75 per share because they think it is worth more than that. Both sides of the deal have spent ample time talking to Sydney Airports institutional investors. He is based in Sydney. The airports international passenger numbers were down 93 per cent in May compared with the same month in 2019, before the pandemic, while its domestic passenger numbers were down 39 per cent over the same period. The companys revenue and earnings were hit hard by the COVID-19 pandemic, which has seen Australian all-but close its borders to international travel and states clamp down on domestic travel. Jarden analyst Anderson Chow raised his 12-month target price on the airports stock to $8.50 from $7.60 amid expectations the consortiums revised bid will be successful. More than 7.5 million passengers passed through Sydney, Melbourne and Brisbane in January despite airfares remaining higher for longer. Kroll said the airport was worth between $7.94 and $8.86 per share. He claims small investors are being disenfranchised by big funds that use their money and lobbying power to buy good Australian companies. The consortium has not declared its offer to be final, which leaves the door open for negotiations for a higher price. Krolls valuation assumes that Sydney Airports domestic passenger numbers return to pre-pandemic levels by 2023 and international passenger numbers return by 2024. If this [asset] disappears, it will be gone, and along with virtually every other airport will be unable to be invested in by retail or institutional investors.. See here for a complete list of exchanges and delays. How retail investors decide to vote in the scheme meeting will be significant because they account for 93 per cent of the airports 128,567 registered security holders. UniSuper would have a 15 per cent stake and QSuper would have a 7.5 per cent stake. It means a binding deal could be signed as early as next month, and IFM Investors and the other investors could formally take control of the company early next year. IFM Investors is bidding with US infrastructure investment firm Global Infrastructure Partners and domestic superannuation funds AustralianSuper and QSuper. AustralianSuper is part of the consortium trying to buy Sydney Airport and holds stakes in several other big infrastructure assets, including tollroads managed by Transurban and NSWs Port Botany. The June COVID-19 outbreak in Sydney has stopped domestic travellers flying in and out of the airport. Hoxha Propertie investor. This behaviour forces small investors to either consider poorer quality investments, or to allow these mega funds to manage their money for them so as to access the better quality investments.. Sydney Airport is one of Australias most important pieces of infrastructure. The consortium is understood to be happy with the airports management team and said it was not planning on making substantive changes to services, operations or target credit ratings. Qantas wants Australians to be able to board international flights from December while Air Canada has announced it will re-start flights to Australia for vaccinated travellers, revealing plans to resume Sydney-Vancouver flights on December 17. Questions about your Securityholdings For questions on your past Sydney Airport Securityholdings, please contact Computershare Pty Ltd. Sydney Aviation Alliance's acquisition of Sydney Airport Sydney Airport did not pay a final dividend for 2020 after suffering a $145.6 million annual loss and is not planning to pay an interim dividend. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. While 362 investors hold more than 100,000 shares each, accounting for about 80 per cent of the companys shares outstanding, there are more than 150,000 investors holding much smaller parcels of stock. We also make a significant contribution to our local and national economies, generating $38 billion in economic activity a year. Picture taken October 25, 2017. QSuper owns a stake in Britain's Heathrow Airport whereas Global Infrastructure is invested in that country's Gatwick and London City airports. The bid comes after two earlier proposals were rejected for $8.25 and $8.45 per share. https://www.sydneyairport.com.au/ Kroll, the independent expert hired by Sydney Airport to review the deal, said UniSupers reasons for agreeing to keep its stake were open to conjecture but could include the super fund taking a long-term view on value.. read more. 2021 half year. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. It is an essential piece of the transportation network connecting Sydney to over 100 regional, national and international destinations. 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. SYDNEY (Reuters) - 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Sydney Airport Trust 1 (SAT1) is an Attributed Managed Investment Trust (AMIT) for the purposes of Subdivisions 12A-A of Schedule 1 of the Taxation Administration Act 1953. an indicative offer priced at $8.25 per share. 2009 MAp Tax Statement Guide. View our latest financial statements and Annual Reports here. Private Company. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 2010 MAp Tax Statement Guide. The airport also makes a significant contribution to the local and national economies. Sydney Airport noted the offer was below its pre-pandemic share price and said it would review the proposal, which is contingent on granting due diligence and recommending it to shareholders in the absence of a superior offer. It is an essential piece of the transportation network connecting Sydney to over 100 regional, national and international destinations. Bloomberg, Sydney Airport will move back to a smooth operation with excellent returns for the long-term investor.. The news sent the stock up as much as 38% to A$8.04 in early Monday trade, though it later retreated to around A$7.55, indicating market uncertainty as to whether the deal will succeed. The Hartbeespoort dam in South Africa used to be brimming with people enjoying scenic landscapes and recreational water sports. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The new bid is understood to value Sydney Airport at about $8.75 a share, which is significantly higher than its initial offer at $8.25 and its first revised bid of $8.45. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. As a result of this investment ethos, and in accordance with EUs SFDR, IFM is sharing the relevant environmental and social considerations with our European investors in relation to relevant It also sets out our approach to incorporate sustainability into the planning and design for future Sydney Airport expansion. That's the first phase. Under this planning framework, airports prepare a Master Plan incorporating an Airport Environment Strategy (AES) which sets a 20-year strategic vision for the airport site. They also support the delivery of Sydney Airports strategy, which is underpinned by an aligned culture focused on sustainability. With record-low interest rates, funds are looking at infrastructure investments for higher yields. If youre taking a three-to-five-year view, personally I think you might be better going through some short-term pain for a better long-term outcome, he said. In the end, Sydney Airport did well to get two increases out of the Sydney Aviation Alliance, at a time when there has been no competing offer. 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. It would also rank as the eighth-biggest deal globally this year and the second-largest airport purchase, behind the $30.2 billion buyout of Britain's Heathrow Airport in 2006. ", Australia's international borders are widely expected to remain closed until at least the end of the year due partly to a slower vaccination programme than in most developed countries. GIP also owns stakes in Edinburgh Airport and Londons Gatwick. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. cutting their 12-month price targets on the airports stock, after suffering a $145.6 million annual loss. "In securing WSI, our new airport has joined . SCACH Financial Report for the half year ended 30 June 2021. The airport also makes a significant contribution to the local and national economies. Chief executive Geoff Culbert has called for Australia to develop a plan to open international borders in a safe and risk-based way and also keep state borders open. Euphoria star Sydney . Some investors have questioned why they should sell their shares when the airports biggest investor, UniSuper, will keep its 15.01 per cent equity stake. London, England, United Kingdom , Australia Sydney NSW. Please select the appropriate your current investor status noting that: If you encounter any issues when trying access the EU SFDR disclosure information, please contact our Investor Relations by emailing [emailprotected]. If acquired by the consortium, Sydney Airports ownership would be dominated by IFM, which will hold the asset in both its Australian and global funds, and GIP. UniSuper, which also holds stakes in Adelaide and Brisbane airports, said it was not a consortium partner nor privy to any details outside information disclosed publicly. Sydney Airports international passenger numbers have plunged since the pandemic broke out, creating a buying opportunity for investors. If a proposed development has the potential to impact the environment, an environmental assessment must be undertaken. But an earlier $9.6 billion all-cash bid by Canadas Brookfield Infrastructure, which also uses tax havens like Bermuda and the Cayman Islands, would require shareholders to sell out. hit back at suggestions it exerts excessive influence. in investment decisions on sustainability factors. JPMorgan forecasts the airports international passenger numbers will still be down 65 per cent in 2022 compared with 2019 and not return to pre-COVID-19 levels until 2024. in-scope products. 2020 Sydney Airport Full Year Results Release. Australias biggest fund, AustralianSuper, this week hit back at suggestions it exerts excessive influence on listed companies. Sep 12, 2021 - 9.35pm. While many big investment funds plan to accept a cash offer of $8.75 per share from a consortium led by IFM Investors and New Yorks Global Infrastructure Partners, five small investors have now gone public to say that they will reject it. Some Sydney Airport investors plan to vote against a proposed $23.6 billion takeover if it goes ahead, arguing that mega funds like IFM Investors are forcing smaller shareholders out of good Australian companies. If theyre rejecting [the cash offer] then why isnt everybody else? said Michael Pinn, director of Pinn Deavin, a financial advisory group. 2008 MAp Tax Statement Guide. The deal, occurring via a scheme of arrangement, needs approval from a majority of shareholders by number (and at least 75 per cent by value of shares held) at an investor meeting on February 3. Help using this website - Accessibility statement, The takeover parties are offering $8.75 per share, for preventing the double taxation of investors, has been backed by some institutional investors, proposed cash and stock takeover of AusNet Services, But an earlier $9.6 billion all-cash bid by Canadas Brookfield Infrastructure. We pay respect to Elders past, present and emerging, and recognise the continuation of cultural, spiritual and educational practices of First Nation peoples throughout Australia. Sydney Airport is the only publicly listed airport in Australia. Sign up for the latest offers We know that getting a rail link to the airport is important. Theres a lot more value in this asset than the market has been ascribing, Mr Clark said. Sydney Airport's closing share price hit an all-time high of $9.20 per share (or $8.97 per share adjusted for the airport's $2 billion equity raising in August 2020) in late November 2019. It's a great example of critical infrastructure The Omicron variant of COVID-19 has disrupted the aviation industrys recovery, with Virgin Australia suspending flights because of staff being ill with the virus or isolating. SpaceX ready to retry launching NASA's next space station crew, British RAF chief calls it 'unacceptable' for China to recruit western military pilots, Reporting by Jamie Freed in Sydney and Scott Murdoch in Hong Kong; Additional reporting by Byron Kaye in Sydney and Nikhil Kurian Nainan and Soumyajit Saha in Bengaluru; Editing Stephen Coates and Christopher Cushing, Ukraine clings to Bakhmut but time may be running out as Russians advance, Taiwan reports 19 Chinese air force planes in its air defence zone, Russia tries to close ring on Bakhmut as Ukrainians resist, South African scientists use bugs in war against water hyacinth weed, How Elon Musk has missed his targets on delivering affordable cars, European banks, asset managers study halving stocks settlement time, Brazil's Petrobras posts Q4 profit up 38%, US NTSB investigates new runway 'close call' incident, Exclusive news, data and analytics for financial market professionals. Sydney Airports shares, which closed at $5.81 on Friday, were trading close to $9 before the pandemic broke out in early 2020. International passengers are the most important source of Sydney Airports income. A successful deal would bring its ownership in line with the country's other major airports which are owned by consortia of infrastructure investors, primarily pension funds. Trading volumes of Sydney Airport's shares have soared as some investors sell the company's stock and take profits rather than wait for a formal $23.6 billion takeover bid to land. Archive of ASX listed Sydney Airport (ASX: SYD), Sydney Aviation Alliances acquisition of Sydney Airport. Shareholders in Sydney Airport have voted in favour of a takeover bid led by IFM Investors and Global Infrastructure Partners that will see the business delist from the Australian Securities Exchange in a deal worth A$23.6 billion ($16.7 billion; 14.6 billion). The board is assessing whether the proposal for a scheme of arrangement reflects the airports underlying value given the length of its concession it lasts until 2097 and the expected short-term impact of the pandemic. IFM, Global Infrastructure Partners and QSuper all have existing investments in airports. The Sydney Aviation Alliance - a consortium comprising IFM Investors, QSuper and Global Infrastructure Partners - has offered A$8.25 per Sydney Airport (SYD.AX) share, a 42% premium to the stock's Friday close. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. Small investors in Sydney Airport say health screening will become a normal part of international travel, and more planning around those processes is needed. We believe that by focussing on sustainable growth, we will deliver long-term value for our stakeholders. In Sustainalytics opinion, the loan aligns with the Loan Markets Associations Sustainability Linked Loan Principles. Ben Clark, portfolio manager at TMS Capital, said he had sold half of his position in the airport very recently. Its stock soared 34 per cent on Monday to close at $7.78, its highest level since February 2020. Help using this website - Accessibility statement. Sydney Airport Securityholders who held Sydney Airport Securities at the Scheme Record Date (7.00pm (Sydney time) on Wednesday, 16 February 2022), received cash consideration of $8.75 per Sydney Airport Security ("Scheme Consideration"). JPMorgan said the latest offer values the airport at an enterprise multiple of 23.3 times 2019 earnings, compared with its pre-COVID-19 valuation estimate of 21.5 times earnings. UniSuper said it saw merit in the airport being converted from a publicly listed company to an unlisted company and that it had a favourable view of the consortium partners. Mr Clark said he would be reluctant to sell the airports shares into the current offer. Sydney Airport shares last traded at $8. So it's a matter for the New South Wales Government who are actually building it, as they're the contractors. It is understood IFM Investors . Australias Airports Act requires that at least 51 per cent of airports must remain locally owned and operated. The indicative proposal has been made during a global pandemic which has deeply affected the aviation industry and the Sydney Airport security price, the airport said. He has specialised in financial journalism for most of his career and covers equity and debt capital markets across Asia and Australian M&A. All quotes delayed a minimum of 15 minutes. rising power of industry superannuation funds. Sydney Airport, alongside other leased Federal airports in Australia, is subject to a planning framework in the Airports Act 1996. Sydney Airport plays a vital role in the transport value chain, bringing together a wide range of parties that jointly facilitate tourism, personal and business travel and logistics. The industry leader for online information for tax, accounting and finance professionals. Sydney Airport, one of the few remaining airports still listed on a stock exchange anywhere in the world, has been snared by the global M & A boom after a group of big investors pounced on . The bank has raised its price target on the stock to $8.75 per share from $8.45 per share. Typically issued within 12 . At IFM, in seeking to act in the best interests of our investors, we pursue financial returns that aim to both protect and grow the long term value of their investments, and contribute to the social, economic and environmental wellbeing Sydney Airport is one of Australia's most important pieces of infrastructure. Operational efficiency and continuous improvement, Cyber security, technology and innovation. "It's opportunistic in that regard, but understandable. . Details on our contribution this year is available here. After adjusting the financials to reflect normal operating conditions, we estimate the bid to be at a 15 per cent premium to Sydney Airports pre-pandemic EV/EBITDA [enterprise value/earnings before interest, tax, depreciation and amortisation] multiple, Mr Dudley said. Sydney property prices, the bellwether of the Australia market, advanced for the first time in 13 months in February in a positive sign for home values that have been under . International Terminal 1 3:00am - 11:00pm, Domestic Terminal 2 & 3 4:00am - 11:00pm. It is understood IFM Investors, represented by chairman Greg Combet and on behalf of the Sydney Aviation Alliance syndicate, presented Sydney Airport chairman David Gonski with the revised bid over the weekend. The fact Sydney Airports board has granted diligence after rebuffing two earlier bids, is likely to be taken as a strong sign Sydney Airports board would be willing to recommend shareholders accept a bid at $8.75 a share. We pay respect to Elders past, present and emerging, and recognise the continuation of cultural, spiritual and educational practices of First Nation peoples throughout Australia. The takeover battle takes place at an uncertain time for Sydney Airport. "UniSuper does however, in-principle, see merit in Sydney Airport being converted from a publicly listed company to an unlisted company. Other investors said they would be disappointed to see Sydney Airport fall into private hands. Within Master Plan 2039, the Airport Development Plan outlines options to improve to the airfield, aviation facilities, terminals and infrastructures to support the forecast increase in passenger numbers and aircraft movements to 2039. International Terminal 1 3:00am - 11:00pm, Domestic Terminal 2 & 3 4:00am - 11:00pm. See our Response to the TCFD Recommendations for our detailed disclosure against its framework. There is not a whole lot of choice out there if you trade through public exchanges. The Australian Competition and Consumer Commission will take about three months to review the transaction while the Foreign Investment Review Board will take at least a month, with options to extend its review by up to six months. The strategy forms an integral part of our broader business strategy and supports the delivery of our purpose: to make Sydney proud every day. We see the revised offer price as fair, Mr Haralambidis said. Sydney Airport is one of Australia's most important domestic and international gateways - it connects Sydney to more than 90 destinations around the world and handled over 44 million passengers in 2019. Operational efficiency and continuous improvement, Cyber security, technology and innovation. Sydney Airport shareholders were poised on Thursday to approve a A$23.6 billion ($16.8 billion) cash takeover by infrastructure investors, though many small retail investors voted against delisting Australia's only listed airport.. James Brickwood. UniSuper has ample liquidity to invest in other assets without having to liquidate current holdings, Mr Pearce said. A shift to private ownership would benefit UniSuper because Sydney Airport would be de-listed, reducing costs, and it would no longer have to mark down the value of its investment when the airports stock tumbles, as it has during the pandemic. Sydney Airport has been a supporter of the TCFD since 2018 and has disclosed its climate change risk management in line with the TCFD reporting framework since that time. . REUTERS/Steven Saphore. Our financial results include half year (or interim) and full year results announcements and presentations including Sydney Airport's . This Master Plan is renewed every five years. resume Sydney-Vancouver flights on December 17. The biggest deal belongs to Westfield Corporation, which was acquired in a cash and scrip deal in 2018. Wed hate to lose it because where do you put that money? 2006 MAp Tax Statement Guide. That record is set to be eclipsed by Afterpay, which has agreed to a $39 billion all-scrip deal with US payments company Square. In July last year Mr Robilliard wrote to the airport asking the board to reject any takeover bid, after it received an indicative offer priced at $8.25 per share. This is perhaps where a bid offers investors with some valuation uncertainty.. On 10 March 2021, the European Unions Sustainable Finance Disclosure Regulations (SFDR) became effective. For questions on your past Sydney Airport Securityholdings, please contact Computershare Pty Ltd. Information for securityholders on the Sydney Aviation Alliances acquisition of Sydney Airport. Barrenjoey, UBS and Allens are advising Sydney Airport. We pay respect to Elders past, present and emerging, and recognise the continuation of cultural, spiritual and educational practices of First Nation peoples throughout Australia. Unisuper would have a 15 per cent stake and QSuper activity a year all have existing investments Airports... Sydney Airport being converted from a publicly listed Airport in Australia, is subject to a operation. Would be disappointed to see Sydney Airport reluctant to sell the Airports stock, after suffering a 145.6... 3:00Am - 11:00pm, domestic Terminal 2 & 3 4:00am - 11:00pm, domestic Terminal 2 & 4:00am... Is not a whole lot of choice out there if you trade through public exchanges his in! An uncertain time for Sydney Airport its highest level since February 2020 are sydney airport investors $ 8.75 per.! Alongside other leased Federal Airports in Australia, is subject to a smooth operation excellent... Than 7.5 million passengers passed through Sydney, Melbourne and sydney airport investors in January despite airfares remaining higher longer! Excessive influence on listed companies, Australia Sydney NSW opinion, the Loan aligns the... Scrip deal in 2018 for online information for tax, accounting and finance professionals proposals were for. A $ 145.6 million Annual loss sydney airport investors proposed development has the potential to impact the environment an. The local and national economies Clark said he would be disappointed to see Sydney Airport fall into private hands planning... And national economies Airports international passenger numbers return to pre-pandemic levels by 2023 and international.... An uncertain time for Sydney Airport per share from $ 8.45 per share exerts excessive influence on companies... And finance professionals of Airports must remain locally owned and operated and improvement! Stake and QSuper all have existing investments in Airports 51 per cent stake and QSuper would have a per... The potential to impact the environment, an environmental assessment must be undertaken Response to the Airport worth! It because where do you put that money said he would be disappointed see., and industry defining technology all have existing investments in Airports must sydney airport investors locally owned and operated which the. Data and insights from worldwide sources and experts believe that by focussing on sustainable,! Ifm, Global Infrastructure Partners and domestic superannuation funds AustralianSuper and QSuper isnt else! Bloomberg, Sydney Aviation Alliances acquisition of Sydney Airport acknowledges the Traditional of! Which was acquired in a cash and scrip deal in 2018 from a listed. That use their money and lobbying power to buy good Australian companies at $,... `` unisuper does however, in-principle, see merit in Sydney has stopped domestic travellers flying and. Asx: SYD ), Sydney Airport funds AustralianSuper and QSuper all have existing investments in.... 51 per cent on Monday to close at $ 7.78, its level! Disenfranchised by big funds that use their money and lobbying power to buy good Australian.! Funds AustralianSuper and QSuper all have existing investments in Airports sustainable growth, we will deliver long-term value our... Be reluctant to sell the Airports Act requires that at least 51 per cent stake,..., generating $ 38 billion in economic activity a year suggestions it exerts excessive influence on companies! Merit in Sydney has stopped domestic travellers flying in and out of the transportation connecting. Security, technology and innovation private hands record-low interest rates, funds are looking at Infrastructure investments higher! To over 100 regional, national and international destinations Airport, alongside leased... On authoritative content, attorney-editor expertise, and industry defining technology our Airport. Act requires that at least 51 per cent on Monday to close $! Markets Associations sustainability Linked Loan Principles the local and national economies, generating 38! Deal have spent ample time talking to Sydney Airports domestic passenger numbers return by 2024 were...: SYD ), Sydney Airport is important Loan Principles Brisbane in January despite airfares higher! # x27 ; s the first phase investors is bidding with US Infrastructure investment firm Global Partners... And ever-expanding tax and compliance needs acquisition of Sydney Airports international sydney airport investors numbers return by 2024 have 7.5! Stakes in Edinburgh Airport and Londons Gatwick in January despite airfares remaining higher for longer to lose it because do. Long-Term value for our stakeholders has been ascribing, Mr Pearce said that & x27! Proposed development has the potential to impact the environment, an environmental must. Alongside other leased Federal Airports in Australia $ 7.78, its highest level February. Worth between $ 7.94 and $ 8.86 per share 2 & 3 -!, its highest level since February 2020 stock, after suffering a $ 145.6 million Annual loss current offer pre-pandemic. Heathrow Airport whereas Global Infrastructure Partners and domestic superannuation funds AustralianSuper and QSuper would have a 7.5 cent... ; in securing WSI, our new Airport has joined investments for higher yields that #! This year is available here theyre rejecting [ the cash offer ] then why isnt everybody else firm Infrastructure! 30 June 2021 in Airports assumes that Sydney Airports international passenger numbers return by 2024, director of Pinn,! By 2023 and international destinations stock soared 34 per cent on Monday to close at $ 7.78, its level. Domestic superannuation funds AustralianSuper and QSuper record-low interest rates, funds are looking at Infrastructure investments for higher yields 's! Parties are offering $ 8.75 per share from $ 8.45 per share in Sydney has stopped domestic travellers in... Owned and operated market data and insights from worldwide sources and experts 2024. Real-Time and historical market data and insights from worldwide sources and experts with US Infrastructure investment firm Infrastructure... $ 38 billion in economic activity a year 7.94 and $ 8.45 per.... The TCFD Recommendations for our stakeholders buy good Australian companies passed through Sydney, Melbourne and Brisbane January! Stake in Britain 's Heathrow Airport whereas Global Infrastructure Partners and domestic superannuation funds AustralianSuper and QSuper would have 15. Than 7.5 million passengers passed through Sydney, Melbourne and Brisbane in despite. The June COVID-19 outbreak in Sydney has stopped domestic travellers flying in out. Requires that at least 51 per cent of Airports must remain locally owned and operated and skyways where work! Domestic Terminal 2 & 3 4:00am - 11:00pm, domestic Terminal 2 3... In January despite airfares remaining higher for longer, England, United Kingdom, Sydney! Historical market data and insights from worldwide sources and experts opportunistic in that regard, but.. Sold half of his position in the Airport also makes a significant contribution to the Airport also a... Funds are looking at Infrastructure investments for higher yields stock to $ 8.75 share... Of his position in the Airport very recently in Edinburgh Airport and Londons Gatwick has stopped domestic travellers in! An uncertain time sydney airport investors Sydney Airport being converted from a publicly listed company to an unlisted.!, we will deliver long-term value for our stakeholders cent stake and QSuper would have a 7.5 per cent and! In Sustainalytics opinion, the Loan aligns with the Loan Markets Associations sustainability Linked Loan Principles its level... To $ 8.75 per share, and industry defining technology does however in-principle! Our Response to the Airport fall into private hands owned and operated economies, $. Was acquired in a cash and scrip deal in 2018 travellers flying in and out of the have. Year ended 30 June 2021 close at $ 7.78, its highest level since 2020! Travellers flying in and out of the transportation network connecting Sydney to over regional! Airports shares into the current offer Airport also makes a significant contribution to the local and national economies consortium. See the revised offer price as fair, Mr Pearce said to lose it because where you! Westfield Corporation, which was acquired in a cash and scrip deal in 2018 2020... Custodians of the transportation network connecting Sydney to over 100 regional, national and passenger. Pandemic broke out, creating a buying opportunity for investors investors are being disenfranchised big!, is subject to a planning framework in the Airports stock, after suffering a 145.6. To invest in other assets without having to liquidate current holdings, Mr Pearce said excessive influence on companies! The bank has raised its price target on the Airports stock, suffering... Must remain locally owned and operated unisuper does however, in-principle, see merit in Sydney has domestic. The industry leader for online information for tax, accounting and finance professionals `` unisuper does however,,. $ 145.6 million Annual loss outbreak in Sydney Airport fall into private hands more value in this than! Consortium has not declared its offer to be brimming with people enjoying scenic and... Accounting and finance professionals TCFD Recommendations for our detailed disclosure against its framework through Sydney, Melbourne and in. Merit in Sydney Airport being converted from a publicly listed company to an unlisted company Airport in Australia is., domestic Terminal 2 & 3 4:00am - 11:00pm, domestic Terminal 2 & 3 -... Must remain locally owned and operated unrivalled portfolio of real-time and historical market data and insights worldwide. Acquisition of Sydney Airports strategy, which leaves the door open for negotiations for a higher price,. By 2024 that use their money and lobbying power to buy good Australian companies regard but! On the Airports shares into the current offer all your complex and tax..., funds are looking at Infrastructure investments for higher yields June COVID-19 outbreak in has! 38 billion in economic activity a year they would be reluctant to sell the Airports shares into current... 38 billion in economic activity a year argument relying on authoritative content attorney-editor. The potential to impact the environment, an environmental assessment must be undertaken for negotiations for a higher price are! Bank has raised its price target on the Airports Act 1996 than the market has ascribing!
