Macquarie buys stakes in three UK airports from Ontario Teachers’ Pension Plan
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The news: Macquarie Group has agreed to acquire ownership stakes in Bristol, Birmingham and London City airports from Ontario Teachers’ Pension Plan.
The numbers: The investment by Macquarie Asset Management, via its Macquarie European Infrastructure Fund 7, was for an undisclosed amount and includes a 55% stake in Bristol Airport, a 26.5% stake in Birmingham Airport and a 25% stake in London City Airport.
The London City Airport deal has reached financial close, while the acquisitions of the other two airports are expected to conclude by the fourth quarter of fiscal 2025, subject to regulatory approvals, the company said.
The three airports collectively serve over 25 million passengers each year.
Macquarie said it plans to support the airports over the long term by expanding route networks, improving passenger experience and working with management and stakeholders on sustainability strategies.
The context: Macquarie has invested in airports globally for over 20 years and operated in the UK for 35 years. It has previously held stakes in airports in Australia, Belgium, Italy, Denmark, Ecuador, Colombia and the UK.
Last year it exited its ownership in AGS Airports, where it had invested £250 million ($516 million).
It comes a day after Macquarie said it had closed the $US6.8 billion Macquarie Infrastructure Partners VI fund for investments in the Americas, alongside $US1.3 billion in co-investment capital.
The source: Macquarie
