Most of Australias airports were privatised in the late 1990s, and Sydney Airport was sold in mid-2002 to Macquarie Airports, which listed the company on the Australian Securities Exchange the same year. Sydney Airport is one of Australia's most important pieces of infrastructure. But an earlier $9.6 billion all-cash bid by Canadas Brookfield Infrastructure, which also uses tax havens like Bermuda and the Cayman Islands, would require shareholders to sell out. Follow the topics, people and companies that matter to you. 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Any takeover is always based on the self-interest of the takeover group, and if they think theres an upside to justify their actions, then we hold the same view, and wish to benefit from our foresight in being shareholders, and not see that benefit passed off to a bunch of opportunists striking at a time of some corporate distress, Mr Robilliard wrote in the letter seen by the Financial Review. 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. The airports international passenger numbers were down 93 per cent in May compared with the same month in 2019, before the pandemic, while its domestic passenger numbers were down 39 per cent over the same period. Wed hate to lose it because where do you put that money? Details on our contribution this year is available here. 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. Mr Pinn wants the competition regulator to focus on the bigger picture if a Sydney Airport transaction which has been backed by some institutional investors proceeds and examine how a small group of people are gaining influence and control over Australias airports. The airport had delivered a $403.9 million profit the previous year. There is no long-term windfall in this offer for the current shareholders.. If the deal completes, it would be the biggest ever cash takeover in Australias history. As a result of this investment ethos, and in accordance with EUs SFDR, IFM is sharing the relevant environmental and social considerations with our European investors in relation to relevant 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. We know that getting a rail link to the airport is important. A rigorous development assessment process has been established to enable Sydney Airport to address its obligations under the Airports (Building Control) Regulations Act 1996. In a statement, Sydney Airport . 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. 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. . The news sent the stock up as much as 38% to A$8.04 in early Monday trade, though it later retreated to around A$7.55, indicating market uncertainty as to whether the deal will succeed. . IFM holds stakes in major airports in Melbourne, Brisbane, Perth and Adelaide. Share. 2007 MAp Tax Statement Guide. If a proposed development has the potential to impact the environment, an environmental assessment must be undertaken. Help using this website - Accessibility statement, raised their indicative takeover offer to $8.75 per share, Qantas wants Australians to be able to board international flights. We recognise that the world around us is rapidly evolving. of the communities in which they live. Other states have closed borders to Sydney residents. [1/2]Passengers walk with their luggage towards departure gates at Sydney International Airport in Australia, October 25, 2017. SYDNEY (Reuters) - A group of infrastructure investors has proposed a A$22.26 billion ($16.7 billion) buyout of Sydney Airport Holdings Pty Ltd, the operator of Australia's biggest. The consortium requires UniSuper to retain as part of the takeover agreement so that it will have enough Australian-based owners to meet foreign ownership rules. The requirements within these guidelines are informed by Sydney Airports sustainability policy, strategy and commitments and the master planning process. Now, the visitors are greeted to the sight of boats stuck in a sea of invasive green water hyacinth weed. Sydney Airport plays a vital role in the transport value chain, bringing together a wide range of parties that jointly facilitate tourism, personal and business travel and logistics. There is not a whole lot of choice out there if you trade through public exchanges. Only a handful of airports globally are still listed on securities exchanges, including Auckland Airport, Frankfurt Airport in Germany and Paris Charles de Gaulle and Orly airports. 2012 Sydney Airport Tax Statement Guide. James Brickwood. We're co-investors in that. 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"). Some Sydney Airport investors plan to vote against a proposed $23.6 billion takeover if it goes ahead, arguing that mega funds like IFM Investors are forcing smaller shareholders out of good Australian companies. UniSuper also has a favourable view of the consortium partners," the fund said. The airport also makes a significant contribution to the local and national economies. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Ben Clark, portfolio manager at TMS Capital, said he had sold half of his position in the airport very recently. The Melbourne Airport's 12 megawatt (MW) solar farm is the largest of its kind at any Australian airport. The consortium, meanwhile, was able to dash hopes of a $9 a share offer. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. Members of the government have become increasingly concerned about the rising power of industry superannuation funds. After adjusting the financials to reflect normal operating conditions, we estimate the bid to be at a 15 per cent premium to Sydney Airports pre-pandemic EV/EBITDA [enterprise value/earnings before interest, tax, depreciation and amortisation] multiple, Mr Dudley said. Sydney Airport is one of Australia's most important pieces of infrastructure. It would also rank as the eighth-biggest deal globally this year and the second-largest airport purchase, behind the $30.2 billion buyout of Britain's Heathrow Airport in 2006. On 10 March 2021, the European Unions Sustainable Finance Disclosure Regulations (SFDR) became effective. QSuper owns a stake in Britain's Heathrow Airport whereas Global Infrastructure is invested in that country's Gatwick and London City airports. Other investors said they would be disappointed to see Sydney Airport fall into private hands. The bid comes after two earlier proposals were rejected for $8.25 and $8.45 per share. Sydney Airport did not pay a final dividend for 2020 after suffering a $145.6 million annual loss and is not planning to pay an interim dividend. 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. Questions about your Securityholdings For questions on your past Sydney Airport Securityholdings, please contact Computershare Pty Ltd. Sydney Aviation Alliance's acquisition of Sydney Airport in investment decisions on sustainability factors. See here for a complete list of exchanges and delays. International Terminal 1 3:00am - 11:00pm, Domestic Terminal 2 & 3 4:00am - 11:00pm. IFM, Global Infrastructure Partners and QSuper all have existing investments in airports. Sydney Airports shares, which closed at $5.81 on Friday, were trading close to $9 before the pandemic broke out in early 2020. Our Standards: The Thomson Reuters Trust Principles. Sydney Airport noted the offer was below its pre-pandemic share price and said it would review the proposal, which is contingent on granting due diligence and recommending it to shareholders in the absence of a superior offer. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The Sydney Airport investor who will vote against a sale Jenny Wiggins Infrastructure reporter Sep 22, 2021 - 5.10pm Some Sydney Airport investors plan to vote against a proposed $23.6 billion. GIP also owns stakes in Edinburgh Airport and Londons Gatwick. IFM Investors is bidding with US infrastructure investment firm Global Infrastructure Partners and domestic superannuation funds AustralianSuper and QSuper. We need to make sure that there is some diversity, and that the public has access [to assets], he said. Sydney Airports SLL represents the first syndicated SLL in Australia, largest syndicated SLL across the Asia Pacific and largest syndicated airport SLL globally. Follow the topics, people and companies that matter to you. Sydney Airport shareholders on Thursday were poised to approve a A$23.6 billion ($16.85 billion) cash takeover by infrastructure investors, though many small retail investors voted against . The company is Australia's only listed airport operator. Operational efficiency and continuous improvement, Cyber security, technology and innovation. 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. 2020. SCACH Financial Report for the half year ended 30 June 2021. The. https://www.sydneyairport.com.au/ 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. 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