The Sydney Airport takeover, one of Australia's biggest-ever buyouts, was backed by 96% of proxy votes cast, but 20.4% of shareholders representing a 4% stake . International passengers are the most important source of Sydney Airports income. IFM, QSuper, Global Infrastructure Partners behind offer, Cash offer at 42% premium to last closing price on Friday, Offer contingent on UniSuper reinvesting 15% equity stake. Sydney Airports current Master Plan runs through to 2039. It means a binding deal could be signed as early as next month, and IFM Investors and the other investors could formally take control of the company early next year. In a statement, Sydney Airport . Hoxha Propertie investor. Mr Clark said he would be reluctant to sell the airports shares into the current offer. It used a discounted cash flow model based on information provided by the airport to calculate its valuation but said there were uncertainties in its underlying assumptions, including the timing of the aviation recovery, the outcome of negotiations with airlines on aeronautical charges in 2022 and 2023, and the airports ability to cut costs. The board is assessing whether the proposal for a scheme of arrangement reflects the airports underlying value given the length of its concession it lasts until 2097 and the expected short-term impact of the pandemic. Goldman Sachs, Macquarie Capital and Herbert Smith Freehills are working for Sydney Aviation Alliance. They pay higher fees than domestic travellers and also spent more money at airport shops. In May, Sydney Airport's international traffic was down more than 93% versus the same month of 2019, while domestic traffic was down 39.2%. UniSuper, which also holds stakes in Adelaide and Brisbane airports, said it was not a consortium partner nor privy to any details outside information disclosed publicly. We pay respect to Elders past, present and emerging, and recognise the continuation of cultural, spiritual and educational practices of First Nation peoples throughout Australia. If successful, the purchase of Australia's biggest airport would be one of the country's largest-ever by enterprise value in U.S. dollar terms, on par with the $22 billion purchase of mall operator Westfield Group by Unibail-Rodamco in 2017, Refinitiv data showed. Trading volumes in the stock, which typically average around 7 million shares, also trebled, hitting their highest levels since the airport was first approached by the IFM consortium in early July. The Sydney Aviation Alliance - a consortium comprising IFM Investors, QSuper and Global Infrastructure Partners - has offered A$8.25 per Sydney Airport (SYD.AX) share, a 42% premium to the stock's Friday close. The airport operator's share price hit a record A$8.86 in January last year, before the novel coronavirus pandemic led to a collapse in travel demand. Harry Dudley, investment analyst at Watermark Funds Management, said that while the bid appeared opportunistic, coming just after NSW reported its highest COVID-19 case numbers for 2021, the offer price was respectable. 2020. Archive of ASX listed Sydney Airport (ASX: SYD), Sydney Aviation Alliances acquisition of Sydney Airport. SCACH Financial Report for the half year ended 30 June 2021. Mr Pinn, who is also a director of the Association of Independently-Owned Financial Professionals, started buying shares in Australias biggest airport more than 20 years ago and has accumulated more than 100,000 shares. 2021 half year. SCACH Financial Report for the year ended 31 December 2021, 2021 Half Year Financial Report and Appendix 4D, SCACH Financial Report for the half year ended 30 June 2021, 2020 Sydney Airport Full Year Results Release, 2020 Sydney Airport Annual Report and Appendix 4E, SCACH Financial Report for the full year ended 31 December 2020, 2020 Half Year Financial Report and Appendix 4D, SCACH Financial Report for the half year ended 30 June 2020, 2019 Sydney Airport Full Year Results Release, 2019 Sydney Airport Annual Report and Appendix 4E, SCACH Financial Report for the full year ended 31 December 2019, 2019 Half Year Financial Report and Appendix 4D, SCACH Financial Report for the half year ended 30 June 2019, 2018 Annual Report for the Full Year ended 31 December 2018 and Appendix 4E, SCACH Group Financial Report for the full year ended 31 December 2018, Sydney Airport Group Financial report for the half year ended 30 June 2018, SCACH Financial Report for the half year ended 30 June 2018, 2017 Annual Report for the Full Year ended 31 December 2017 and Appendix 4E, SCACH Financial Report for the full year ended 31 December 2017, Sydney Airport Group Financial Report for the half year ended 30 June 2017, SCACH Financial Report for the half year ended 30 June 2017, Sydney Airport Group Financial Report for the full year ended 31 December 2016, SCACH Financial Report for the full year ended 31 December 2016, Sydney Airport Group Financial Report for the half year ended 30 June 2016, SCACH Financial Report for the half year ended 30 June 2016, Sydney Airport Group Financial Report for year ended 31 December 2015, SCACH Financial Report for year ended 31 December 2015, Sydney Airport Group Financial Report for the half year ended 30 June 2015, SCACH Financial Report for the half year ended 30 June 2015, Sydney Airport Group Financial Report for year ended 31 December 2014, SCACH Financial Report for year ended 31 December 2014, Sydney Airport Group Financial Report for the half year ended 30 June 2014, SCACH Financial Report for the half year ended 30 June 2014, Sydney Airport Group Financial Report for the year ended 31 December 2013, SCACH Financial Report for the year ended 31 December 2013, Sydney Airport Group Financial Report for the half year ended 30 June 2013, SCACH Financial Report for the half year ended 30 June 2013, Sydney Airport Group Financial Report for the year ended 31 December 2012, SCACH Financial Report for the year ended 31 December 2012, Sydney Airport Group Financial Report for the half year ended 30 June 2012, SCACH Financial Report for the half year ended 30 June 2012, Sydney Airport Group Financial Report for the year ended 31 December 2011, SCACH Financial Report for the year ended 31 December 2011, Sydney Airport Group Financial Report for the half year ended 30 June 2011, SCACH Financial Report for the half year ended 30 June 2011, Sydney Airport Group Financial Report for the year ended 31 December 2010, SCACH Financial Report for the year ended 31 December 2010, Sydney Airport Group Financial Report for the half year ended 30 June 2010, SCACH Financial Report for the half year ended 30 June 2010, Sydney Airport Group Financial Report for the year ended 31 December 2009, SCACH Financial Report for the year ended 31 December 2009, Sydney Airport Group Financial Report for the half year ended 30 June 2009, SCACH Financial Report for the half year ended 30 June 2009, Sydney Airport Group Financial Report for the year ended 31 December 2008, SCACH Financial Report for the year ended 31 December 2008, Sydney Airport Group Financial Report for the half year ended 30 June 2008, SCACH Financial Report for the half year ended 30 June 2008, Sydney Airport Group Financial Report for the year ended 31 December 2007, Sydney Airport Group Financial Report for the half year ended 30 June 2007. Sydney Airport declined to comment. early this year which has met a cool reception from shareholders. Sydney Airport declined to comment on how many retail investors it has but according to its most recent annual report, most of its investors are small shareholders. The bank has raised its price target on the stock to $8.75 per share from $8.45 per share. It is understood IFM Investors, represented by chairman Greg Combet and on behalf of the Sydney Aviation Alliance syndicate, presented Sydney Airport chairman David Gonski with the revised bid over the weekend. of the communities in which they live. SYDNEY, July 5 (Reuters) - A group of infrastructure investors has proposed one of Australia's biggest-ever buyouts, a A$22.26 billion ($16.7 billion) purchase of Sydney Airport Holdings. It is an essential piece of the transportation network connecting Sydney to over 100 regional, national and international destinations. So it's a matter for the New South Wales Government who are actually building it, as they're the contractors. Follow the topics, people and companies that matter to you. There is not a whole lot of choice out there if you trade through public exchanges. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The airports monopoly on local aviation will end in 2026 when the new Western Sydney Airport opens. "It's the right timing to be looking at these assets which have got a 75-year life when conditions are arguably at the bottom," said a Sydney Airport investor who declined to be named because the person's firm was still assessing the proposal. International travellers are far more lucrative than domestic travellers for the airport because the fees charged on international passengers are much higher, and they spend more money at airport shops. Help using this website - Accessibility statement, has agreed to a $39 billion all-scrip deal with US payments company Square, Airports have best month since pandemic hit, The alarming workforce trend causing flight delays. . Sydney property prices, the bellwether of the Australia market, advanced for the first time in 13 months in February in a positive sign for home values that have been under . RBA. IFM already owns stakes in Melbourne, Brisbane, Perth, Adelaide airports as well as NT airports, which include Darwin, Alice Springs and Tennant Creek airports. 2007 MAp Tax Statement Guide. This is perhaps where a bid offers investors with some valuation uncertainty.. Analysts also believe the $8.75 per share offer is fair. The purchase, with an enterprise value of A$30 billion including debt, would allow them to reap financial benefits when borders reopen and travel demand rebounds. Our ambition is to be an industry leader in sustainability. They provide very limited financial disclosure and do not reveal the fees they charge to manage investments, or their executives bonus structures. In July last year Mr Robilliard wrote to the airport asking the board to reject any takeover bid, after it received an indicative offer priced at $8.25 per share. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Bloomberg, Sydney Airport will move back to a smooth operation with excellent returns for the long-term investor.. It would imply a $32 billion plus valuation for the airport owner, including debt. The proposed takeover received its final regulatory approvals in December after Australias Foreign Investment Review Board said it had no concerns about the sale. We're co-investors in that. A $23.6 billion cash takeover offer is appealing to Sydney Airport investors who are uncertain about how fast domestic and international flights will resume. Sydney Airport shares last traded at $8. SYDNEYA group of infrastructure investors submitted a nearly $17 billion takeover bid for Sydney Airport, the operator of Australia's busiest airport, signaling that investors are. in-scope products. With record-low interest rates, funds are looking at infrastructure investments for higher yields. The proposal comes as record-low interest rates prompt pension funds and their investment managers to chase higher yields. [1/2]Passengers walk with their luggage towards departure gates at Sydney International Airport in Australia, October 25, 2017. Sydney Airport is one of Australia's most important domestic and international gateways - it connects Sydney to more than 90 destinations around the world and handled over 44 million passengers in 2019. Feb 2020 - Present3 years 2 months. 2008 MAp Tax Statement Guide. Our sustainability strategy responds to a changing world, and to the challenges and opportunities that shape business in Australia and globally. Elon Musk was expected to reveal new EVs at Wednesday's Investor Day, but instead, he shared details of a $10 trillion Master Plan 3 to eliminate the use of fossil fuels. Help using this website - Accessibility statement. Theres a lot more value in this asset than the market has been ascribing, Mr Clark said. Importantly, the new offer was high enough to gain approval from Sydney Airports board, which had rebuffed the two earlier offers, and end a two-month deadlock. The consortium, meanwhile, was able to dash hopes of a $9 a share offer. Follow the topics, people and companies that matter to you. Chief executive Geoff Culbert has called for Australia to develop a plan to open international borders in a safe and risk-based way and also keep state borders open. Sydney Airports shares, which closed at $5.81 on Friday, were trading close to $9 before the pandemic broke out in early 2020. Sydney Airport is one of Australias most important domestic and international gateways it connects Sydney to more than 90 destinations around the world and handled over 44 million passengers in 2019. IFM, Global Infrastructure Partners and QSuper all have existing investments in airports. Sydney Airport Holdings said on Monday it has agreed to accept a A$23.6 billion ($17.5 billion) takeover bid from an infrastructure investor group in one of Australia's biggest buyouts. Greencape Capital investor Steven Haralambidis said he had not sold any of the airports stock over the past week and that he expected the spread between the $8.75 per share offer and Sydney Airports current share price, which dropped 1.7 per cent on Tuesday to $8.23, to tighten. JPMorgan forecasts the airports international passenger numbers will still be down 65 per cent in 2022 compared with 2019 and not return to pre-COVID-19 levels until 2024. Sydney Airport Securityholders who held Sydney Airport Securities at the Scheme Record Date (7.00pm (Sydney time) on Wednesday, 16 February 2022), received cash consideration of $8.75 per Sydney Airport Security ("Scheme Consideration"). Qantas wants Australians to be able to board international flights from December while Air Canada has announced it will re-start flights to Australia for vaccinated travellers, revealing plans to resume Sydney-Vancouver flights on December 17. IFM holds stakes in major airports in Melbourne, Brisbane, Perth and Adelaide. This Master Plan is renewed every five years. Krolls valuation assumes that Sydney Airports domestic passenger numbers return to pre-pandemic levels by 2023 and international passenger numbers return by 2024. Sydney Airport Trust 1 (SAT1) is an Attributed Managed Investment Trust (AMIT) for the purposes of Subdivisions 12A-A of Schedule 1 of the Taxation Administration Act 1953. Follow the topics, people and companies that matter to you. Infrastructure assets are attractive to big investment and superannuation funds because they provide stable long-term returns, and often have concessions that allow prices to be increased in line with or above the rate of inflation. For any questions about your past Sydney Airport Securityholdings, please contact Computershare Pty Ltd (Sydney Airports security registry) by calling +61 (0)3 9415 4000 or 1300 850 505 (within Australia). IFM Investors is bidding with US infrastructure investment firm Global Infrastructure Partners and domestic superannuation funds AustralianSuper and QSuper. On 10 March 2021, the European Unions Sustainable Finance Disclosure Regulations (SFDR) became effective. The $8.25 per share unsolicited cash offer, made on Friday evening by a consortium of investors that own stakes in other airports IFM Investors, Queensland superannuation fund QSuper and US-based Global Infrastructure Partners (GIP) comes as record low interest rates fuel sales of assets such as Telstras mobile tower network and Sydney toll road WestConnex. At IFM, in seeking to act in the best interests of our investors, we pursue financial returns that aim to both protect and grow the long term value of their investments, and contribute to the social, economic and environmental wellbeing While 362 investors hold more than 100,000 shares each, accounting for about 80 per cent of the companys shares outstanding, there are more than 150,000 investors holding much smaller parcels of stock. Operational efficiency and continuous improvement, Cyber security, technology and innovation. 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