CANADA/AUSTRALIA/EUROPE - The Ontario Teachers' Pension Plan has struck a deal with MAp Airports to exchange its interest in Sydney Airport and a cash payment for MAp's interests in Brussels Airport and Copenhagen Airport.
The transaction will result in Teachers' Infrastructure Group adding a 39% holding in Brussels Airport and 30% in Copenhagen Airport to its existing airport holding. MAp will receive Teachers' 11% interest in Sydney Airport plus a cash payment. The transaction is expected to close in 2011, subject to regulatory approvals.
"We believe that Brussels and Copenhagen Airports are excellent opportunities that strongly reflect our investment criteria and our long-term investment horizon," said Stephen Dowd, senior vice-president, Teachers' Infrastructure Group.
"As experienced airport investors, we look forward to working with the Belgian and Danish governments and other stakeholders to develop the full potential of these airports."
Teachers' Infrastructure Group already invests in Birmingham Airport and Bristol Airport, which are jointly controlled alongside other shareholders.
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