News
Sydney Airport takeover clears due diligence hurdle
October 19th 2021
A consortium making a A$23 billion (US$17 billion) for major Australian gateway, Sydney Airport, has cleared its first hurdle and finished its due diligence. Read More » The airport announced in September it would open its books so the alliance of IFM investors, QSuper, AustralianSuper and Global Infrastructure partners, could perform due diligence after the consortium increased its offer for the business A$8.75 a share. A stock exchange statement issued by Sydney Airport on Monday said negotiations were continuing over transaction documents with a view to the parties seeking internal approvals in coming weeks. “Should these documents be agreed, it remains the Sydney Airport board’s intention to unanimously recommend that security holders vote in favour of the proposal, in the absence of a superior proposal and subject to an independent expert concluding the proposed transaction is in the best interests of Sydney Airport security holders,’’ the statement said.
