sydney airport investors

Sydney Airport, alongside other leased Federal airports in Australia, is subject to a planning framework in the Airports Act 1996. See here for a complete list of exchanges and delays. James Brickwood. "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. He is based in Sydney. Trading volumes of Sydney Airports shares have soared as some investors sell the companys stock and take profits rather than wait for a formal $23.6 billion takeover bid to land. Some investors have questioned why they should sell their shares when the airports biggest investor, UniSuper, will keep its 15.01 per cent equity stake. We believe that by focussing on sustainable growth, we will deliver long-term value for our stakeholders. 2006 MAp Tax Statement Guide. Due diligence should be relatively straightforward in this instance given the nature of the company and the pedigree of the consortium in the sector.. AustralianSuper is part of the consortium trying to buy Sydney Airport and holds stakes in several other big infrastructure assets, including tollroads managed by Transurban and NSWs Port Botany. The United Nations Sustainable Development Goals (SDGs) seek to address the most significant challenges our world is facing today. 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. The board is understood to have granted IFM Investors and its bid partners due diligence, which would start this week. 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. Their offer is contingent on UniSuper, Sydney Airport's largest shareholder with a 15% stake, agreeing to reinvest its equity interest for an equivalent equity holding in the consortium's vehicle. 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. Sydney Airports biggest investor, UniSuper, which has a 15 per cent stake, reacted favourably to the takeover proposal, which requires that the superannuation fund keeps its equity holding and not sell for cash. 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. But while believing most shareholders would accept a formal bid of $8.75 per share from the consortium, particularly short-term investors like hedge funds and arbitrage funds, Mr Clark said the airports long-term investors would miss out on an expected revival in flights due to pent-up demand for travel. We are absolutely disgusted by the boards narrow view of a monopoly (if not oligopoly) business and their absolute failure to consider the long-term position, Mr Robilliard said. 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. read more. 2014 Sydney Airport Tax Statement Guide. IFM, Global Infrastructure Partners and QSuper all have existing investments in airports. UniSuper said it saw merit in the airport being converted from a publicly listed company to an unlisted company and that it had a favourable view of the consortium partners. Sydney Airports shares, which closed at $5.81 on Friday, were trading close to $9 before the pandemic broke out in early 2020. 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). The Omicron variant of COVID-19 has disrupted the aviation industrys recovery, with Virgin Australia suspending flights because of staff being ill with the virus or isolating. https://www.sydneyairport.com.au/ Sydney Airport shares last traded at $8. 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The proposal comes as record-low interest rates prompt pension funds and their investment managers to chase higher yields. 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. IFM Investors is bidding with US infrastructure investment firm Global Infrastructure Partners and domestic superannuation funds AustralianSuper and QSuper. While we are of the belief international travel will return to pre-COVID levels in 2024, the trajectory of the recovery despite vaccination rates improving globally remains uncertain, JPMorgan said. This is perhaps where a bid offers investors with some valuation uncertainty.. Sydney Airport is one of Australia's most important pieces of infrastructure. early this year which has met a cool reception from shareholders. The discount to offer price that Sydney Airports shares trade at likely reflects the hurdles the consortium needs to get through. 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. James Brickwood. If a proposed development has the potential to impact the environment, an environmental assessment must be undertaken. The Scheme Consideration was paid out on the implementation date, Wednesday 9 March 2022. IFM, run by chief executive David Neal and owned by 26 Australian industry superannuation funds, has been on the hunt for deals and launched an $8 billion bid for a 23 per cent stake in Spanish gas and electricity group Naturgy Energy early this year which has met a cool reception from shareholders. Sydney Airports shares jumped almost 5 per cent on Monday, hitting their highest levels since the outbreak of the pandemic, after a consortium led by IFM Investors raised their indicative takeover offer to $8.75 per share and gained access to the companys financial books to do due diligence. Ben Clark, TMS Capital portfolio manager. Sydney Airports SLL represents the first syndicated SLL in Australia, largest syndicated SLL across the Asia Pacific and largest syndicated airport SLL globally. 2020. The airport also makes a significant contribution to the local and national economies. Scott Murdoch has been a journalist for more than two decades working for Thomson Reuters and News Corp in Australia. Sep 12, 2021 - 9.35pm. The proposed takeover received its final regulatory approvals in December after Australias Foreign Investment Review Board said it had no concerns about the sale. cutting their 12-month price targets on the airports stock, after suffering a $145.6 million annual loss. 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 Pty Ltd, taking a longer-term view on the pandemic-battered travel sector. But . 2021 Half Year Financial Report and Appendix 4D. GIP also owns stakes in Edinburgh Airport and Londons Gatwick. 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. 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. Mr Clark said he would be reluctant to sell the airports shares into the current offer. 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. See here for a complete list of exchanges and delays. So it's a matter for the New South Wales Government who are actually building it, as they're the contractors. Private Company. RBA. The revised offer comes after a two-month tussle between the consortium and Sydney Airport. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. 2008 MAp Tax Statement Guide. Our financial results include half year (or interim) and full year results announcements and presentations including Sydney Airport's . Help using this website - Accessibility statement. International Terminal 1 3:00am - 11:00pm, Domestic Terminal 2 & 3 4:00am - 11:00pm. See an overview of Sydney Airport including performance highlights. in investment decisions on sustainability factors. The new bid is understood to value Sydney Airport at about $8.75 a share, which is significantly higher than its initial offer at $8.25 and its first revised bid of $8.45. IFM already owns stakes in Melbourne, Brisbane, Perth, Adelaide airports as well as NT airports, which include Darwin, Alice Springs and Tennant Creek airports. London, England, United Kingdom , Australia Sydney NSW. 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. Sydney Airports board led by new chairman David Gonski, who replaced Trevor Gerber at the companys annual general meeting in May is still considering the takeover offer and has told shareholders to take no action. Kroll said the airport was worth between $7.94 and $8.86 per share. 2007 MAp Tax Statement Guide. Sydney Airport has been a supporter of the TCFD since 2018 and has disclosed its climate change risk management in line with the TCFD reporting framework since that time. The indicative price is below where Sydney Airports security price traded before the pandemic.. Sydney Airport shareholders were poised on Thursday to approve a A$23.6 billion ($16.8 billion) cash takeover by infrastructure investors, though many small retail investors voted against delisting Australia's only listed airport.. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Sydney Airport has stapled securities, which trade as if they were a single security. Typically issued within 12 . JPMorgan said the latest offer values the airport at an enterprise multiple of 23.3 times 2019 earnings, compared with its pre-COVID-19 valuation estimate of 21.5 times earnings. For questions on your past Sydney Airport Securityholdings, please contact Computershare Pty Ltd. Information for securityholders on the Sydney Aviation Alliances acquisition of Sydney Airport. 2020. Sydney Airport, one of the few remaining airports still listed on a stock exchange anywhere in the world, has been snared by the global M&A boom after a group of big investors pounced on its pandemic-stricken share price to lob a $22 billion takeover bid. Our sustainability strategy responds to a changing world, and to the challenges and opportunities that shape business in Australia and globally. "In securing WSI, our new airport has joined . SYDNEY -A group of infrastructure investors has proposed one of Australia's biggest-ever buyouts, a A$22.26 billion purchase of Sydney Airport Holdings Pty Ltd, taking a longer-term view on the. Feb 2020 - Present3 years 2 months. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. 2011 MAp Tax Statement Guide. an indicative offer priced at $8.25 per share. of the communities in which they live. IFM holds stakes in major airports in Melbourne, Brisbane, Perth and Adelaide. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. In a statement, Sydney Airport . Sydney Airport Limited (ASX:SYD) received a lot of attention from a substantial price movement on the ASX in the over the last few months, increasing to A$7.03 at one point, and dropping to the. Euphoria star Sydney . Theres a lot more value in this asset than the market has been ascribing. . Air traffic controllers had an average 20 shifts off at short notice last year. SYDNEY, Aug 16 (Reuters) - Sydney Airport Holdings Pty Ltd (SYD.AX) on Monday rejected an improved A$22.80 billion ($16.81 billion) bid from a group of infrastructure investors, saying. Master Plan 2039 acknowledges that continued growth of Sydney Airport is crucial to achieving local, state and national employment, tourism and development objectives. IFM Investors has secured access to Sydney Airport's books with a revised bid valuing the airport owner at more than $32 billion. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. See our Response to the TCFD Recommendations for our detailed disclosure against its framework. The Australian Competition and Consumer Commission will take about three months to review the transaction while the Foreign Investment Review Board will take at least a month, with options to extend its review by up to six months. Under this planning framework, airports prepare a Master Plan incorporating an Airport Environment Strategy (AES) which sets a 20-year strategic vision for the airport site. 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. It also outlines the commercial property opportunities that exist in the landside areas of the airport that are complementary to aviation operations and provide economic growth for the local economy. its final regulatory approvals in December. resume Sydney-Vancouver flights on December 17. 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. Obviously, that was seen as the area that we wanted to do first. It is an essential piece of the transportation network connecting Sydney to over 100 regional, national and international destinations. See the Construction and development on the airport page in the Environment section of our website for more detail on our management approach to development on airport lands. Follow the topics, people and companies that matter to you. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. UniSuper also has a favourable view of the consortium partners," the fund said. If theyre rejecting [the cash offer] then why isnt everybody else? said Michael Pinn, director of Pinn Deavin, a financial advisory group. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Thats up from 14 in 2019 and is unsustainable Airservices Australia admits. Its stock soared 34 per cent on Monday to close at $7.78, its highest level since February 2020. That record is set to be eclipsed by Afterpay, which has agreed to a $39 billion all-scrip deal with US payments company Square. The industry leader for online information for tax, accounting and finance professionals. Barrenjoey, UBS and Allens are advising Sydney Airport. 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"). More than 7.5 million passengers passed through Sydney, Melbourne and Brisbane in January despite airfares remaining higher for longer. The airports monopoly on local aviation will end in 2026 when the new Western Sydney Airport opens. He has specialised in financial journalism for most of his career and covers equity and debt capital markets across Asia and Australian M&A. Now, the visitors are greeted to the sight of boats stuck in a sea of invasive green water hyacinth weed. We know that getting a rail link to the airport is important. If youre taking a three-to-five-year view, personally I think you might be better going through some short-term pain for a better long-term outcome, he said. 2009 MAp Tax Statement Guide. The Melbourne Airport's 12 megawatt (MW) solar farm is the largest of its kind at any Australian airport. If this [asset] disappears, it will be gone, and along with virtually every other airport will be unable to be invested in by retail or institutional investors.. Follow the topics, people and companies that matter to you. Our Sustainability Policy sets out our commitment to sustainability and our latest Sustainability Report provides a window into our strategic objectives, initiatives and performance for the year. 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 . More small investors in Sydney Airport are publicly venting their opposition to the companys proposed $23.6 billion takeover as a vote on the deal looms in early February, arguing its board is taking a short-term view. 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. 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. UniSuper would have a 15 per cent stake and QSuper would have a 7.5 per cent stake. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. Read more about the transaction here. 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