Western Sydney International airport has been given its three-letter code by the International Air Transport Association in a show of confidence in the new gateway. Sydney Airports shares jumped almost 5 per cent on Monday, hitting their highest levels since the outbreak of the pandemic, after a consortium led by IFM Investors raised their indicative takeover offer to $8.75 per share and gained access to the companys financial books to do due diligence. Macquarie Group divested its holdings in 2013 and UniSuper is now Sydney Airports biggest shareholder. The gap between the airports current share price and the consortiums offer reflects potential risks to a deal completing, including securing regulatory approvals. Scott Murdoch has been a journalist for more than two decades working for Thomson Reuters and News Corp in Australia. 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 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. 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. Goldman Sachs, Macquarie Capital and Herbert Smith Freehills are working for Sydney Aviation Alliance. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. 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. They also support the delivery of Sydney Airports strategy, which is underpinned by an aligned culture focused on sustainability. UniSuper chief investment officer John Pearce said the superannuation fund was always looking to buy and hold quality assets at a reasonable price.. International Terminal 1 3:00am - 11:00pm, Domestic Terminal 2 & 3 4:00am - 11:00pm. It is an essential piece of the transportation network connecting Sydney to over 100 regional, national and international destinations. SYDNEYA group of infrastructure investors submitted a nearly $17 billion takeover bid for Sydney Airport, the operator of Australia's busiest airport, signaling that investors are. 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 . Thats up from 14 in 2019 and is unsustainable Airservices Australia admits. 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. REUTERS/Steven Saphore. The. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. 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. Sydney Airport had asked institutional investors for time, while the bidders wanted the investors to pressure the board to accept the bid. The consortium, named the Sydney Aviation Alliance, is understood to have a positive view on the eventual return of global air travel as vaccines are distributed, as well as Australias future economic and population growth and the need for people to fly around the country. Only a handful of airports globally are still listed on securities exchanges, including Auckland Airport, Frankfurt Airport in Germany and Paris Charles de Gaulle and Orly airports. A $23.6 billion cash takeover offer is appealing to Sydney Airport investors who are uncertain about how fast domestic and international flights will resume. Sydney Airports current Master Plan runs through to 2039. 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. . James Brickwood. its final regulatory approvals in December. IFM, Global Infrastructure Partners and QSuper all have existing investments in airports. The requirements within these guidelines are informed by Sydney Airports sustainability policy, strategy and commitments and the master planning process. The numbers of investors holding stock is important because under the scheme of arrangement transaction proposed by the IFM consortium, at least 50 per cent of the number of shareholders who turn up to vote on the deal must approve it for the deal to succeed. More small investors in Sydney Airport are publicly venting their opposition to the companys proposed $23.6 billion takeover as a vote on the deal looms in early February, arguing its board is taking a short-term view. Bloomberg, Sydney Airport will move back to a smooth operation with excellent returns for the long-term investor.. The strategy forms an integral part of our broader business strategy and supports the delivery of our purpose: to make Sydney proud every day. 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. We have mapped the SDG framework against our sustainability strategy to show how we are contributing to the achievement of the SDGs. International travellers are far more lucrative than domestic travellers for the airport because the fees charged on international passengers are much higher, and they spend more money at airport shops. Sydney Airports innovative Sustainability Linked Loan (SLL) determines if the companys bank debt facility margins will decrease or increase depending on our sustainability performance over time. But while believing most shareholders would accept a formal bid of $8.75 per share from the consortium, particularly short-term investors like hedge funds and arbitrage funds, Mr Clark said the airports long-term investors would miss out on an expected revival in flights due to pent-up demand for travel. Sydney Airport is the only publicly listed airport in Australia. Mr Pinn, who is also a director of the Association of Independently-Owned Financial Professionals, started buying shares in Australias biggest airport more than 20 years ago and has accumulated more than 100,000 shares. 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 latest price offered by the consortium was pretty attractive over a one- to three-year horizon given uncertainty about when state and national border restrictions would ease and how fast air travel would rebound after the COVID-19 pandemic, Mr Clark said. "In securing WSI, our new airport has joined . Sydney Airports biggest investor, UniSuper, which has a 15 per cent stake, reacted favourably to the takeover proposal, which requires that the superannuation fund keeps its equity holding and not sell for cash. Private Company. We're co-investors in that. Planned improvements to the ground transport network to accommodate increased passenger, visitor, staff and freight traffic requirements to 2039 are also included. 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. He is based in Sydney. The industry leader for online information for tax, accounting and finance professionals. an indicative offer priced at $8.25 per share. The proposed takeover received its final regulatory approvals in December after Australias Foreign Investment Review Board said it had no concerns about the sale. Our ambition is to be an industry leader in sustainability. 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 The Sydney Airport investor who will vote against a sale Jenny Wiggins Infrastructure reporter Sep 22, 2021 - 5.10pm Some Sydney Airport investors plan to vote against a proposed $23.6 billion. It also sets out our approach to incorporate sustainability into the planning and design for future Sydney Airport expansion. It is understood IFM Investors . 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). London, England, United Kingdom , Australia Sydney NSW. Australias biggest fund, AustralianSuper, this week hit back at suggestions it exerts excessive influence on listed companies. Krolls valuation assumes that Sydney Airports domestic passenger numbers return to pre-pandemic levels by 2023 and international passenger numbers return by 2024. The airport operator's share price hit a record A$8.86 in January last year, before the novel coronavirus pandemic led to a collapse in travel demand. Sydney Airport declined to comment. Always looking for properties that require a little work transform homes to Lux level and rent to . The takeover battle takes place at an uncertain time for Sydney Airport. Barrenjoey, UBS and Allens are advising Sydney Airport. 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. IFM, QSuper, Global Infrastructure Partners behind offer, Cash offer at 42% premium to last closing price on Friday, Offer contingent on UniSuper reinvesting 15% equity stake. Its stock soared 34 per cent on Monday to close at $7.78, its highest level since February 2020. 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. It would imply a $32 billion plus valuation for the airport owner, including debt. SYDNEY, Aug 16 (Reuters) - Sydney Airport Holdings Pty Ltd (SYD.AX) on Monday rejected an improved A$22.80 billion ($16.81 billion) bid from a group of infrastructure investors, saying. Master plans include future land uses, noise and environmental impacts. So it's a matter for the New South Wales Government who are actually building it, as they're the contractors. Sydney Airport is one of Australias 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. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. IFM Investors has secured access to Sydney Airport's books with a revised bid valuing the airport owner at more than $32 billion. 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.. Typically issued within 12 . 2011 MAp Tax Statement Guide. 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]. James Brickwood. 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. The Melbourne Airport's 12 megawatt (MW) solar farm is the largest of its kind at any Australian airport. 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. Trading volumes in the stock, which typically average around 7 million shares, also trebled, hitting their highest levels since the airport was first approached by the IFM consortium in early July. in investment decisions on sustainability factors. We see the revised offer price as fair, Mr Haralambidis said. Follow the topics, people and companies that matter to you. Read more about the transaction here. More small investors in Sydney Airport are publicly venting their opposition to the company's proposed $23.6 billion takeover as a vote on the deal looms in early February, arguing its board is . 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. They pay higher fees than domestic travellers and also spent more money at airport shops. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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.. Family Property investors we do Rent to Rent /Sublet and we are Landlords of properties in Luxury areas in UK and Overseas. See the Construction and development on the airport page in the Environment section of our website for more detail on our management approach to development on airport lands. It has valued the airports equity at up to $24 billion, including the potential value of commercial property development, and deducted almost $50 million of liabilities plus another $28 million that would be used to pay out performance rights if the deal succeeds. I am one of those Sydney Airport investors who is not happy to exit Sydney Airport and wont be voting in favour, Michael Pinn, director of Pinn Deavin, a financial advisory group, told The Australian Financial Review. 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. 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, 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 its pandemic-stricken share price to lob a $22 billion takeover bid. Sydney Airport shareholders on Thursday were poised to approve a A$23.6 billion ($16.85 billion) cash takeover by infrastructure investors, though many small retail investors voted against . The Scheme Consideration was paid out on the implementation date, Wednesday 9 March 2022. This Master Plan is renewed every five years. Euphoria star Sydney . 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. Kroll said the airport was worth between $7.94 and $8.86 per share. But . Obviously, that was seen as the area that we wanted to do first. There doesnt seem to be too much of a control premium being placed into this price and really youre getting less than you could get two years ago, he said. UniSuper has ample liquidity to invest in other assets without having to liquidate current holdings, Mr Pearce said. 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