19 November 2017
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Ontario teachers fund offloads 30% stake in UK’s airports

02 November 17 - Irene Theofanidou
Ontario teachers fund offloads 30% stake in UK’s airports

COMPANIES

IBI Group

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Canada’s Ontario Teachers' Pension Plan has entered a definitive agreement with Australia's New South Wales Treasury (TCorp) and Sunsuper Superannuation Fund to divest its 30% shares in UK’s Bristol and Birmingham airports.

 

Under the deal, TCorp will acquire 15% stake as trustee of TCorpIM Direct Investment Fund E, while Sunsuper will buy the remaining 15% as trustee of Sunsuper.

According to airport-technology.com, following the sale, Ontario Teachers', TCorp and Sunsuper will own 70%, 15% and 15% stake in Bristol Airport and 33.8%, 7.2% and 7.2% in Birmingham Airport respectively.

With the completion of the sale, the three companies will become investment partners in the UK's two regional airports.

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