Planned improvements to the ground transport network to accommodate increased passenger, visitor, staff and freight traffic requirements to 2039 are also included. The strategy forms an integral part of our broader business strategy and supports the delivery of our purpose: to make Sydney proud every day. The indicative price is below where Sydney Airports security price traded before the pandemic.. The consortium is understood to be happy with the airports management team and said it was not planning on making substantive changes to services, operations or target credit ratings. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. London, England, United Kingdom , Australia Sydney NSW. The goal of this regulation is to create harmonised rules for financial market participants and financial advisers regarding the integration of sustainability risks in investment decision-making, and the consideration of adverse impacts Mr Pinn also argues that privatisations and takeovers of the nations infrastructure assets are not fairly redistributing wealth among Australians because many of the funds buying them are foreign entities that take advantage of tax havens. The Melbourne Airport's 12 megawatt (MW) solar farm is the largest of its kind at any Australian airport. 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. 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. in-scope products. The airport also makes a significant contribution to the local and national economies. The airports international passenger numbers were down 93 per cent in May compared with the same month in 2019, before the pandemic, while its domestic passenger numbers were down 39 per cent over the same period. This Master Plan is renewed every five years. Private Company. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. On 10 March 2021, the European Unions Sustainable Finance Disclosure Regulations (SFDR) became effective. Sydney Airport is one of Australias most important pieces of infrastructure. Mr Pinn wants the competition regulator to focus on the bigger picture if a Sydney Airport transaction which has been backed by some institutional investors proceeds and examine how a small group of people are gaining influence and control over Australias airports. If acquired by the consortium, Sydney Airports ownership would be dominated by IFM, which will hold the asset in both its Australian and global funds, and GIP. We believe that by focussing on sustainable growth, we will deliver long-term value for our stakeholders. Domestic travel has also been disrupted by a two-week lockdown in Sydney during the normally busy school holiday period, after an outbreak of the highly contagious Delta variant of COVID-19. It also sets out our approach to incorporate sustainability into the planning and design for future Sydney Airport expansion. JPMorgan forecasts the airports international passenger numbers will still be down 65 per cent in 2022 compared with 2019 and not return to pre-COVID-19 levels until 2024. While many big investment funds plan to accept a cash offer of $8.75 per share from a consortium led by IFM Investors and New Yorks Global Infrastructure Partners, five small investors have now gone public to say that they will reject it. Hoxha Propertie investor. Bloomberg, Sydney Airport will move back to a smooth operation with excellent returns for the long-term investor.. Understanding and embracing change will shape our future and drive our strategic thinking. That will create new opportunities for Sydney Airport . He has specialised in financial journalism for most of his career and covers equity and debt capital markets across Asia and Australian M&A. We know that getting a rail link to the airport is important. Help using this website - Accessibility statement, has agreed to a $39 billion all-scrip deal with US payments company Square, Airports have best month since pandemic hit, The alarming workforce trend causing flight delays. Both IFM, which manages $172 billion of assets globally, and New York-headquartered Global Infrastructure Partners, which is part of the consortium bidding for Sydney Airport, register some of their infrastructure funds in the Cayman Islands. Due diligence should be relatively straightforward in this instance given the nature of the company and the pedigree of the consortium in the sector.. View distribution history, MIT notices, Non resident information and tax tools. The board is understood to have granted IFM Investors and its bid partners due diligence, which would start this week. If youre taking a three-to-five-year view, personally I think you might be better going through some short-term pain for a better long-term outcome, he said. Within Master Plan 2039, the Airport Development Plan outlines options to improve to the airfield, aviation facilities, terminals and infrastructures to support the forecast increase in passenger numbers and aircraft movements to 2039. This is perhaps where a bid offers investors with some valuation uncertainty.. 2013 Sydney Airport Tax Statement Guide. Trading volumes of Sydney Airports shares have soared as some investors sell the companys stock and take profits rather than wait for a formal $23.6 billion takeover bid to land. 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. 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. Sydney property prices, the bellwether of the Australia market, advanced for the first time in 13 months in February in a positive sign for home values that have been under . The Scheme Consideration was paid out on the implementation date, Wednesday 9 March 2022. The revised offer comes after a two-month tussle between the consortium and Sydney Airport. REUTERS/Steven Saphore. 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. See our Response to the TCFD Recommendations for our detailed disclosure against its framework. He is based in Sydney. Sydney Airports innovative Sustainability Linked Loan (SLL) determines if the companys bank debt facility margins will decrease or increase depending on our sustainability performance over time. cutting their 12-month price targets on the airports stock, after suffering a $145.6 million annual loss. Follow the topics, people and companies that matter to you. The biggest deal belongs to Westfield Corporation, which was acquired in a cash and scrip deal in 2018. Our Standards: The Thomson Reuters Trust Principles. IFM Investors has secured access to Sydney Airport's books with a revised bid valuing the airport owner at more than $32 billion. SCACH Financial Report for the half year ended 30 June 2021. They also support the delivery of Sydney Airports strategy, which is underpinned by an aligned culture focused on sustainability. But while believing most shareholders would accept a formal bid of $8.75 per share from the consortium, particularly short-term investors like hedge funds and arbitrage funds, Mr Clark said the airports long-term investors would miss out on an expected revival in flights due to pent-up demand for travel. 2012 Sydney Airport Tax Statement Guide. Our ambition is to be an industry leader in sustainability. The purchase, with an enterprise value of A$30 billion including debt, would allow them to reap financial benefits when borders reopen and travel demand rebounds. A successful deal would bring its ownership in line with the country's other major airports which are owned by consortia of infrastructure investors, primarily pension funds. View our latest financial statements and Annual Reports here. It has not made a final decision. 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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.. Sydney Airport is one of Australia's most important pieces of infrastructure. Wed hate to lose it because where do you put that money? In a statement, Sydney Airport . Help using this website - Accessibility statement. IFM holds stakes in major airports in Melbourne, Brisbane, Perth and Adelaide. James Brickwood. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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). We're co-investors in that. More than 7.5 million passengers passed through Sydney, Melbourne and Brisbane in January despite airfares remaining higher for longer. Read more about the transaction here. The proposed takeover received its final regulatory approvals in December after Australias Foreign Investment Review Board said it had no concerns about the sale. 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. 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. 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. resume Sydney-Vancouver flights on December 17. 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