UK. The Dublin Airport Authority (DAA), through its wholly-owned subsidiary Aer Rianta International (ARI), and Macquarie Airports have completed the sale of their shareholdings in Birmingham Airport Holdings Ltd for a gross consideration of £420 million.
The sale, to Airport Group Investments Limited (a consortium comprising Ontario Teachers’ Pension Plan Board and Victorian Funds Management Corporation), was structured as a joint sale of ARI’s shareholding and the 24.125% shareholding held by Macquarie Airports Group.
Welcoming the completion of the sale process, DAA Chairman Gary McGann noted that the DAA’s ten-year investment in Birmingham Airport Holdings had yielded very high returns in terms of capital appreciation and dividend payments.
“This has been a highly successful investment for the DAA and indirectly for the Irish taxpayer. The proceeds will be used principally to support the funding of the €2 billion investment programme at Dublin Airport, which will transform the travel experience for all the airport’s customers,” he added.
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Bidders gather for ARI and Macquarie stakes in Birmingham Airport – 19/03/07
