Macquarie sold airport stake at a discount
02.10.09
Macquarie Airports (MAp) sold its 35.5 percent stake in Bristol Airport at a discount to its June 30 valuation, it has been revealled. The global airport investment fund said last month that it would receive £128 million after agreeing to sell the stake to Canadian pension fund Ontario Teachers.
The fund said the sale price for its stake in Bristol Airport represented a 13 percent discount to its valuation at June 30. Chief Executive Kerrie Mather added: ‘With the MAp portfolio having grown significantly over the last 5 years, Bristol represents just 4 percent of our portfolio by value. We feel that our investors are better served deploying our resources elsewhere.'
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