Ontario Teachers’ to sell 30 pct of stakes in British airports
Ontario Teachers' Pension Plan has agreed to sell 30 percent of its stakes in Bristol Airport and Birmingham Airport, both U.K. regional airports. The stakes will be sold to Australia's New South Wales Treasury Corp (TCorp) and Sunsuper Superannuation Fund for an undisclosed sum. With the deal's close, expected next month, Ontario Teachers', TCorp and Sunsuper will own 70 percent, 15 percent and 15 percent of Bristol Airport, and 33.8 percent, 7.2 percent and 7.2 percent of Birmingham Airport, respectively. Ontario Teachers', an investor in the two U.K. airports since 2001, also has holdings in three other major European freehold airports.
31 October 2017•4 mins read
