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Sydney airport receives $ 16.74 billion purchase offer from consortium By Reuters

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© Reuters. FILE PHOTO: Passengers walk with their luggage towards the gates at Sydney International Airport in Australia, October 25, 2017. Photo taken on October 25, 2017. REUTERS / Steven Saphore

(Reuters) – Australia’s Sydney Airport Holdings Pty Ltd said on Monday that a consortium of investors proposed to buy the airport operator for A $ 22.26 billion ($ 16.74 billion).

The proposed A $ 8.25 per share represents a 42% premium over Sydney Airport’s closing price on Friday. However, it is discounted from where the company’s shares were trading in 2020 before the COVID-19 lockdowns.

Sydney Airport said the consortium is comprised of IFM Investors, QSuper pension fund and Global Instructure Management.

The company noted that the offer is below its pre-pandemic share price and said it is reviewing the proposal.

IFM, QSuper and Global Infrasture did not immediately respond to a request for comment.

The airport operator has hired Barrenjoey and UBS as financial advisers.

($ 1 = 1.3294 Australian dollars)

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