(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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