Airport closer to stakes buy
Sydney Airport remains in "very constructive discussions" about buying out the minority shareholders in the country's largest airport.
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.