"Australian bank buys stake in British airport for £84mil"

Friday, December 14, 2001

Macquarie buys stake in British airport for £84mil
Reuters


SYDNEY: Macquarie Bank Ltd’s airports investment vehicle had acquired a
24% stake in Britain’s fifth largest airport for £84mil. 

The Australian bank said its Macquarie Airports Group had exchanged
contracts with Bridgepoint Capital Ltd to acquire its 24.125% stake in
Birmingham Airport Holdings Ltd. It expects to complete the acquisition
later this month. 

The deal is part of Macquarie's strategy to grow its airport investment
base in Europe. The group already has a 50% stake in Bristol
International Airport. 

“Macquarie Airports Group is committed to being a long-term shareholder
in the airport and the investment signals our continued confidence in
the long-term growth of the aviation sector,” Macquarie Airports
chairman Anthony Kahn said. 

Kahn said there were strong growth prospects in the European aviation
sector, particularly in regional airports. 

Macquarie hopes to list the airports group, one of a number of equity
investment funds it runs. The group was formed in August and seeded with
an initial 365 million euros. Other stakeholders in Birmingham Airport
include Aer Rianta and the District Councils.


 Do you have an opinion about this story?
Share it with other readers in our CAA Discussion Forums

http://www.californiaaviation.org/cgi-bin/dcforum/dcboard.cgi?confÜConfID8

*****************************************