Airport closer to stakes buy
The listed company has been interested in buying out the remaining 15.2 per cent of the shares it does not already own for several years, but speculation about a deal has intensified in recent weeks.
The airport's minority shareholders include the Future Fund, Australian superannuation funds MTAA Super and UniSuper, and overseas investors such as Hochtief AirPort.
Sydney Airport chairman Max Moore-Wilton said on Friday a purchase of minority shareholders in Kingsford Smith was under constant consideration.
"That is all ongoing but there is nothing that we want to say further because we have made no agreements at this stage. We are engaging and continuing very constructive discussions," he said on the sidelines of the CAPA Australia-Pacific Aviation Summit in Sydney.
The chairman made it clear at the airport's annual meeting last year it was interested in purchasing the minority stakes. Mr Moore-Wilton said any purchase would be linked to plans to simplify the airport's complicated airport structure. The listed vehicle owns the overwhelming majority of the airport through Southern Cross Airports Corporation Holdings.
He would not comment on whether a deal was imminent.
The airport also remains in talks with Qantas about buying back early the airline's long-term leases on the jet base and the domestic terminal known as T3. Those leases expire by 2020.
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Sydney Airport has been in talks about buying out the remaining 15.2% of shares it does not already own, with the company describing the discussions as ‘very constructive’ but saying no agreements have been reached.
The airport’s minority shareholders include the Future Fund, Australian super funds MTAA Super and UniSuper, and overseas investors such as Hochtief AirPort.
The listed company has been interested in purchasing the remaining minority stake for several years, though recent weeks have seen intensified speculation about a potential deal.
Chairman Max Moore-Wilton said the purchase of minority shareholders was under constant consideration and that the company was engaging in very constructive discussions, but he also said there were no agreements to announce at this stage.
Any purchase would be linked to plans to simplify the airport’s complicated structure: the listed vehicle currently owns the overwhelming majority of the airport through Southern Cross Airports Corporation Holdings.
The chairman would not comment on whether a deal was imminent; the company has stated discussions are ongoing but has made no confirmed agreements.
Sydney Airport is also in talks with Qantas about buying back early the airline’s long‑term leases on the jet base and the domestic terminal known as T3, with those leases set to expire by 2020.
Everyday investors should watch for formal announcements from Sydney Airport about any agreed deal, updates on the company’s plans to simplify its structure, and progress in talks with Qantas, since the company has only confirmed ongoing discussions so far.
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