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International travellers who have been fully vaccinated and are arriving in Sydney do not need to be quarantined

Sydney Airport has agreed to accept a A$23.6bn (£13bn; $17.5bn) takeover bid from a group of investors.

This deal would be Australia’s largest buyout ever.

Following the rejection of its previous offer by the owner, Sydney Aviation Alliance raised their bid.

But, there could be many hurdles to the sale, so it may take several months for the entire process.

Sydney Airport Boards believes the outcome is appropriate for long-term airport value and recommend that securityholders accept the proposal, with customary conditions like independent expert approval or no superior proposal,” said David Gonski (chair), in a statement made to the stock market.

Shortly after Australia reopened its borders for international travel, the announcement about the agreement with Australia’s largest airport operator was made.

Fully vaccinated foreign visitors can now enter Australia’s biggest two states. Many Australians now have the freedom to travel internationally.

SAA is comprised of Australian companies IFM Investors and QSuper, AustralianSuper, and US-based Global Infrastructure Partners.

To be complete, the deal must still clear many more obstacles. This includes an independent report about the takeover.

The approval of three quarters (or more) of shareholders is required, along with the endorsement from Australian regulators.

The board of Sydney Airport stated that they plan to meet about the agreement in the first quarter 2022.

On Monday, shares in the company rose by 2.8% during trading at the Sydney Stock Exchange.

Source: BBC.com

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