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. Importantly, the new offer was high enough to gain approval from Sydney Airports board, which had rebuffed the two earlier offers, and end a two-month deadlock. There is not a whole lot of choice out there if you trade through public exchanges. Bloomberg, Sydney Airport will move back to a smooth operation with excellent returns for the long-term investor.. In a global first, Western Sydney International (Nancy-Bird Walton) Airport has provisionally secured its three-letter code more than three years ahead of opening, with the code WSI ensuring that the airport will truly take Western Sydney to the world. See an overview of Sydney Airport including performance highlights. Our financial results include half year (or interim) and full year results announcements and presentations including Sydney Airport's . 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. 2021 half year. They also support the delivery of Sydney Airports strategy, which is underpinned by an aligned culture focused on sustainability. "UniSuper does however, in-principle, see merit in Sydney Airport being converted from a publicly listed company to an unlisted company. 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. There is no long-term windfall in this offer for the current shareholders.. 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. The bid comes after two earlier proposals were rejected for $8.25 and $8.45 per share. The airport had delivered a $403.9 million profit the previous year. 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. Help using this website - Accessibility statement. Shareholders in Sydney Airport have voted in favour of a takeover bid led by IFM Investors and Global Infrastructure Partners that will see the business delist from the Australian Securities Exchange in a deal worth A$23.6 billion ($16.7 billion; 14.6 billion). More than 7.5 million passengers passed through Sydney, Melbourne and Brisbane in January despite airfares remaining higher for longer. 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. The revised offer comes after a two-month tussle between the consortium and Sydney Airport. See Section 7.1 of Master Plan 2039 for more information. read more. This is perhaps where a bid offers investors with some valuation uncertainty.. In Sustainalytics opinion, the loan aligns with the Loan Markets Associations Sustainability Linked Loan Principles. They pay higher fees than domestic travellers and also spent more money at airport shops. 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. Trading volumes of Sydney Airport's shares have soared as some investors sell the company's stock and take profits rather than wait for a formal $23.6 billion takeover bid to land. 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 Sydney Airport board recommended shareholders vote to accept the offer. Mr Clark said he would be reluctant to sell the airports shares into the current offer. 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 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. In May, Sydney Airport's international traffic was down more than 93% versus the same month of 2019, while domestic traffic was down 39.2%. Jarden analyst Anderson Chow raised his 12-month target price on the airports stock to $8.50 from $7.60 amid expectations the consortiums revised bid will be successful. 2007 MAp Tax Statement Guide. 2006 MAp Tax Statement Guide. IFM, Global Infrastructure Partners and QSuper all have existing investments in airports. APA Groups $10 billion proposed cash and stock takeover of AusNet Services is an example of a deal that would allow small shareholders to keep a stake in a listed entity, he said. It means a binding deal could be signed as early as next month, and IFM Investors and the other investors could formally take control of the company early next year. Wed hate to lose it because where do you put that money? 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. It is understood IFM Investors . Details on our contribution this year is available here. Sydney Airport declined to comment on how many retail investors it has but according to its most recent annual report, most of its investors are small shareholders. He is based in Sydney. 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. Sydney Airport is one of Australia's most important pieces of infrastructure. UniSuper chief investment officer John Pearce said the superannuation fund was always looking to buy and hold quality assets at a reasonable price.. The federal parliaments standing committee on economics is holding an inquiry into the ownership of public companies, and the influence exerted by big funds. We have mapped the SDG framework against our sustainability strategy to show how we are contributing to the achievement of the SDGs. Western Sydney International airport has been given its three-letter code by the International Air Transport Association in a show of confidence in the new gateway. 2009 MAp Tax Statement Guide. "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. 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). 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. Sydney Airport shares last traded at $8. The consortium, meanwhile, was able to dash hopes of a $9 a share offer. IFM Investors has secured access to Sydney Airport's books with a revised bid valuing the airport owner at more than $32 billion. 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. 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. It would imply a $32 billion plus valuation for the airport owner, including debt. The company is Australia's only listed airport operator. Ian Robilliard, who owns more than 14,000 shares with his wife, told The Australian Financial Review that while there may be a hiatus of several years in airline travel, he believed screening the health of travellers would eventually become as routine as increased security at airports following the September 11 terror attacks. The indicative proposal has been made during a global pandemic which has deeply affected the aviation industry and the Sydney Airport security price, the airport said. 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. Some Sydney Airport investors dont want it to be sold off to big funds. It's a great example of critical infrastructure The $8.25 per share unsolicited cash offer, made on Friday evening by a consortium of investors that own stakes in other airports IFM Investors, Queensland superannuation fund QSuper and US-based Global Infrastructure Partners (GIP) comes as record low interest rates fuel sales of assets such as Telstras mobile tower network and Sydney toll road WestConnex. Ben Clark, TMS Capital portfolio manager. Follow the topics, people and companies that matter to you. Family Property investors we do Rent to Rent /Sublet and we are Landlords of properties in Luxury areas in UK and Overseas. Sydney Airport, which makes most of its money from international travellers, has struggled during the pandemic and was forced to raise $2 billion of equity in August 2020 at $4.56 per share to strengthen its balance sheet. There doesnt seem to be too much of a control premium being placed into this price and really youre getting less than you could get two years ago, he said. 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. read more. 2012 Sydney Airport Tax Statement Guide. The gap between the airports current share price and the consortiums offer reflects potential risks to a deal completing, including securing regulatory approvals. [1/2]Passengers walk with their luggage towards departure gates at Sydney International Airport in Australia, October 25, 2017. Sydney Airport's SLL represents the first syndicated SLL in Australia, largest syndicated SLL across the Asia Pacific and largest syndicated airport SLL globally. SCACH Financial Report for the half year ended 30 June 2021. But . Sydney Airport is one of Australias most important domestic and international gateways it connects Sydney to more than 90 destinations around the world and handled over 44 million passengers in 2019. The indicative price is below where Sydney Airports security price traded before the pandemic.. If the deal completes, it would be the biggest ever cash takeover in Australias history. Operational efficiency and continuous improvement, Cyber security, technology and innovation. Master Plan 2039 acknowledges that continued growth of Sydney Airport is crucial to achieving local, state and national employment, tourism and development objectives. Sep 12, 2021 - 9.35pm. International passengers are the most important source of Sydney Airports income. Harry Dudley, investment analyst at Watermark Funds Management, said that while the bid appeared opportunistic, coming just after NSW reported its highest COVID-19 case numbers for 2021, the offer price was respectable. The takeover battle takes place at an uncertain time for Sydney Airport. 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. It is an essential piece of the transportation network connecting Sydney to over 100 regional, national and international destinations. The proposal comes as record-low interest rates prompt pension funds and their investment managers to chase higher yields. hit back at suggestions it exerts excessive influence. 2021 half year. Australia's mandatory retirement savings system, known as superannuation, has assets of A$3.1 trillion, according to the Association of Superannuation Funds of Australia. The numbers of investors holding stock is important because under the scheme of arrangement transaction proposed by the IFM consortium, at least 50 per cent of the number of shareholders who turn up to vote on the deal must approve it for the deal to succeed. We're co-investors in that. The June COVID-19 outbreak in Sydney has stopped domestic travellers flying in and out of the 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.. 2020. Share. The Melbourne Airport's 12 megawatt (MW) solar farm is the largest of its kind at any Australian airport. UniSuper, which also holds stakes in Adelaide and Brisbane airports, said it was not a consortium partner nor privy to any details outside information disclosed publicly. Ben Clark, portfolio manager at TMS Capital, said he had sold half of his position in the airport very recently. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. This behaviour forces small investors to either consider poorer quality investments, or to allow these mega funds to manage their money for them so as to access the better quality investments.. The deal, occurring via a scheme of arrangement, needs approval from a majority of shareholders by number (and at least 75 per cent by value of shares held) at an investor meeting on February 3. 2014 Sydney Airport Tax Statement Guide. 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. Our Sustainability Strategy has three pillars underpinned by 2021-2024 focus areas and strategic outcomes aligned with SYDs values: To read about our performance in progressing our sustainability strategy, see our annual sustainability reporting. He has specialised in financial journalism for most of his career and covers equity and debt capital markets across Asia and Australian M&A. early this year which has met a cool reception from shareholders. 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. Sydney Airport is one of Australias most important pieces of infrastructure. 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