Only a handful of airports globally are still listed on securities exchanges, including Auckland Airport, Frankfurt Airport in Germany and Paris Charles de Gaulle and Orly airports. The industry leader for online information for tax, accounting and finance professionals. "It's opportunistic in that regard, but understandable. The board is assessing whether the proposal for a scheme of arrangement reflects the airports underlying value given the length of its concession it lasts until 2097 and the expected short-term impact of the pandemic. Sydney Airport, alongside other leased Federal airports in Australia, is subject to a planning framework in the Airports Act 1996. The new bid is understood to value Sydney Airport at about $8.75 a share, which is significantly higher than its initial offer at $8.25 and its first revised bid of $8.45. The Melbourne Airport's 12 megawatt (MW) solar farm is the largest of its kind at any Australian airport. Due diligence should be relatively straightforward in this instance given the nature of the company and the pedigree of the consortium in the sector.. Always looking for properties that require a little work transform homes to Lux level and rent to . 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. Greencape Capital investor Steven Haralambidis said he had not sold any of the airports stock over the past week and that he expected the spread between the $8.75 per share offer and Sydney Airports current share price, which dropped 1.7 per cent on Tuesday to $8.23, to tighten. Sydney Airport is one of Australias most important pieces of infrastructure. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. 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. If theyre rejecting [the cash offer] then why isnt everybody else? said Michael Pinn, director of Pinn Deavin, a financial advisory group. 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. International Terminal 1 3:00am - 11:00pm, Domestic Terminal 2 & 3 4:00am - 11:00pm. It has valued the airports equity at up to $24 billion, including the potential value of commercial property development, and deducted almost $50 million of liabilities plus another $28 million that would be used to pay out performance rights if the deal succeeds. We see the revised offer price as fair, Mr Haralambidis said. Mr Clark said he would be reluctant to sell the airports shares into the current offer. AustralianSuper is part of the consortium trying to buy Sydney Airport and holds stakes in several other big infrastructure assets, including tollroads managed by Transurban and NSWs Port Botany. 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 Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Any takeover is always based on the self-interest of the takeover group, and if they think theres an upside to justify their actions, then we hold the same view, and wish to benefit from our foresight in being shareholders, and not see that benefit passed off to a bunch of opportunists striking at a time of some corporate distress, Mr Robilliard wrote in the letter seen by the Financial Review. 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. Most of Australias airports were privatised in the late 1990s, and Sydney Airport was sold in mid-2002 to Macquarie Airports, which listed the company on the Australian Securities Exchange the same year. In the end, Sydney Airport did well to get two increases out of the Sydney Aviation Alliance, at a time when there has been no competing offer. It is understood IFM Investors . Sydney Airport, alongside other leased Federal airports in Australia, is subject to a planning framework in the Airports Act 1996. IFM Investors has secured access to Sydney Airport's books with a revised bid valuing the airport owner at more than $32 billion. In May, Sydney Airport's international traffic was down more than 93% versus the same month of 2019, while domestic traffic was down 39.2%. Evolution in our business context is taking many forms whether it be advancements in the aviation sector, technological disruption, climate change, changing consumption trends and passenger travel patterns, global health crises, changing employee preferences or community expectations. 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. The bank has raised its price target on the stock to $8.75 per share from $8.45 per share. cutting their 12-month price targets on the airports stock, after suffering a $145.6 million annual loss. Sydney Airport Securityholders who held Sydney Airport Securities at the Scheme Record Date (7.00pm (Sydney time) on Wednesday, 16 February 2022), received cash consideration of $8.75 per Sydney Airport Security ("Scheme Consideration"). Obviously, that was seen as the area that we wanted to do first. Family Property investors we do Rent to Rent /Sublet and we are Landlords of properties in Luxury areas in UK and Overseas. https://www.sydneyairport.com.au/ Harry Dudley, investment analyst at Watermark Funds Management, said that while the bid appeared opportunistic, coming just after NSW reported its highest COVID-19 case numbers for 2021, the offer price was respectable. Kroll, the independent expert hired by Sydney Airport to review the deal, said UniSupers reasons for agreeing to keep its stake were open to conjecture but could include the super fund taking a long-term view on value.. Sydney Airport Limited (ASX:SYD) received a lot of attention from a substantial price movement on the ASX in the over the last few months, increasing to A$7.03 at one point, and dropping to the. 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. It is an essential piece of the transportation network connecting Sydney to over 100 regional, national and international destinations. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. We believe that by focussing on sustainable growth, we will deliver long-term value for our stakeholders. Elon Musk was expected to reveal new EVs at Wednesday's Investor Day, but instead, he shared details of a $10 trillion Master Plan 3 to eliminate the use of fossil fuels. They pay higher fees than domestic travellers and also spent more money at airport shops. This behaviour forces small investors to either consider poorer quality investments, or to allow these mega funds to manage their money for them so as to access the better quality investments.. Australias biggest fund, AustralianSuper, this week hit back at suggestions it exerts excessive influence on listed companies. That record is set to be eclipsed by Afterpay, which has agreed to a $39 billion all-scrip deal with US payments company Square. Western Sydney International airport has been given its three-letter code by the International Air Transport Association in a show of confidence in the new gateway. 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. Details on our contribution this year is available here. Sydney Airports shares, which closed at $5.81 on Friday, were trading close to $9 before the pandemic broke out in early 2020. The consortium, named the Sydney Aviation Alliance, is understood to have a positive view on the eventual return of global air travel as vaccines are distributed, as well as Australias future economic and population growth and the need for people to fly around the country. SCACH Financial Report for the half year ended 30 June 2021. Sydney Airport, which makes most of its money from international travellers, has struggled during the pandemic and was forced to raise $2 billion of equity in August 2020 at $4.56 per share to strengthen its balance sheet. Sydney Airport is one of Australia's most important pieces of infrastructure. It would also rank as the eighth-biggest deal globally this year and the second-largest airport purchase, behind the $30.2 billion buyout of Britain's Heathrow Airport in 2006. Kroll said the airport was worth between $7.94 and $8.86 per share. SYDNEY -A group of infrastructure investors has proposed one of Australia's biggest-ever buyouts, a A$22.26 billion purchase of Sydney Airport Holdings Pty Ltd, taking a longer-term view on the. View distribution history, MIT notices, Non resident information and tax tools. Help using this website - Accessibility statement, The takeover parties are offering $8.75 per share, for preventing the double taxation of investors, has been backed by some institutional investors, proposed cash and stock takeover of AusNet Services, But an earlier $9.6 billion all-cash bid by Canadas Brookfield Infrastructure. To read about our performance in this area see our Sustainability Report. Help using this website - Accessibility statement. Help using this website - Accessibility statement. See here for a complete list of exchanges and delays. The. The airport also makes a significant contribution to the local and national economies. The $8.25 per share unsolicited cash offer, made on Friday evening by a consortium of investors that own stakes in other airports IFM Investors, Queensland superannuation fund QSuper and US-based Global Infrastructure Partners (GIP) comes as record low interest rates fuel sales of assets such as Telstras mobile tower network and Sydney toll road WestConnex. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. See here for a complete list of exchanges and delays. 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. Our Sustainability Strategy has three pillars underpinned by 2021-2024 focus areas and strategic outcomes aligned with SYDs values: To read about our performance in progressing our sustainability strategy, see our annual sustainability reporting. The airport also makes a significant contribution to the local and national economies. SCACH Financial Report for the year ended 31 December 2021. I am one of those Sydney Airport investors who is not happy to exit Sydney Airport and wont be voting in favour, Michael Pinn, director of Pinn Deavin, a financial advisory group, told The Australian Financial Review. In a statement, Sydney Airport . The Sydney Airport takeover, one of Australia's biggest-ever buyouts, was backed by 96% of proxy votes cast, but 20.4% of shareholders representing a 4% stake . 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. Goldman Sachs, Macquarie Capital and Herbert Smith Freehills are working for Sydney Aviation Alliance. SCACH Financial Report for the year ended 31 December 2021, 2021 Half Year Financial Report and Appendix 4D, SCACH Financial Report for the half year ended 30 June 2021, 2020 Sydney Airport Full Year Results Release, 2020 Sydney Airport Annual Report and Appendix 4E, SCACH Financial Report for the full year ended 31 December 2020, 2020 Half Year Financial Report and Appendix 4D, SCACH Financial Report for the half year ended 30 June 2020, 2019 Sydney Airport Full Year Results Release, 2019 Sydney Airport Annual Report and Appendix 4E, SCACH Financial Report for the full year ended 31 December 2019, 2019 Half Year Financial Report and Appendix 4D, SCACH Financial Report for the half year ended 30 June 2019, 2018 Annual Report for the Full Year ended 31 December 2018 and Appendix 4E, SCACH Group Financial Report for the full year ended 31 December 2018, Sydney Airport Group Financial report for the half year ended 30 June 2018, SCACH Financial Report for the half year ended 30 June 2018, 2017 Annual Report for the Full Year ended 31 December 2017 and Appendix 4E, SCACH Financial Report for the full year ended 31 December 2017, Sydney Airport Group Financial Report for the half year ended 30 June 2017, SCACH Financial Report for the half year ended 30 June 2017, Sydney Airport Group Financial Report for the full year ended 31 December 2016, SCACH Financial Report for the full year ended 31 December 2016, Sydney Airport Group Financial Report for the half year ended 30 June 2016, SCACH Financial Report for the half year ended 30 June 2016, Sydney Airport Group Financial Report for year ended 31 December 2015, SCACH Financial Report for year ended 31 December 2015, Sydney Airport Group Financial Report for the half year ended 30 June 2015, SCACH Financial Report for the half year ended 30 June 2015, Sydney Airport Group Financial Report for year ended 31 December 2014, SCACH Financial Report for year ended 31 December 2014, Sydney Airport Group Financial Report for the half year ended 30 June 2014, SCACH Financial Report for the half year ended 30 June 2014, Sydney Airport Group Financial Report for the year ended 31 December 2013, SCACH Financial Report for the year ended 31 December 2013, Sydney Airport Group Financial Report for the half year ended 30 June 2013, SCACH Financial Report for the half year ended 30 June 2013, Sydney Airport Group Financial Report for the year ended 31 December 2012, SCACH Financial Report for the year ended 31 December 2012, Sydney Airport Group Financial Report for the half year ended 30 June 2012, SCACH Financial Report for the half year ended 30 June 2012, Sydney Airport Group Financial Report for the year ended 31 December 2011, SCACH Financial Report for the year ended 31 December 2011, Sydney Airport Group Financial Report for the half year ended 30 June 2011, SCACH Financial Report for the half year ended 30 June 2011, Sydney Airport Group Financial Report for the year ended 31 December 2010, SCACH Financial Report for the year ended 31 December 2010, Sydney Airport Group Financial Report for the half year ended 30 June 2010, SCACH Financial Report for the half year ended 30 June 2010, Sydney Airport Group Financial Report for the year ended 31 December 2009, SCACH Financial Report for the year ended 31 December 2009, Sydney Airport Group Financial Report for the half year ended 30 June 2009, SCACH Financial Report for the half year ended 30 June 2009, Sydney Airport Group Financial Report for the year ended 31 December 2008, SCACH Financial Report for the year ended 31 December 2008, Sydney Airport Group Financial Report for the half year ended 30 June 2008, SCACH Financial Report for the half year ended 30 June 2008, Sydney Airport Group Financial Report for the year ended 31 December 2007, Sydney Airport Group Financial Report for the half year ended 30 June 2007. Other states have closed borders to Sydney residents. 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. The companys revenue and earnings were hit hard by the COVID-19 pandemic, which has seen Australian all-but close its borders to international travel and states clamp down on domestic travel. IFM holds stakes in major airports in Melbourne, Brisbane, Perth and Adelaide. Sydney Airport, one of the few remaining airports still listed on a stock exchange anywhere in the world, has been snared by the global M & A boom after a group of big investors pounced on . IFM, Global Infrastructure Partners and QSuper all have existing investments in airports. Barrenjoey, UBS and Allens are advising Sydney Airport. . Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. All quotes delayed a minimum of 15 minutes. Australia's mandatory retirement savings system, known as superannuation, has assets of A$3.1 trillion, according to the Association of Superannuation Funds of Australia. More small investors in Sydney Airport are publicly venting their opposition to the companys proposed $23.6 billion takeover as a vote on the deal looms in early February, arguing its board is taking a short-term view. 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. But . Some Sydney Airport investors plan to vote against a proposed $23.6 billion takeover if it goes ahead, arguing that mega funds like IFM Investors are forcing smaller shareholders out of good Australian companies. Master plans include future land uses, noise and environmental impacts. Sydney Airport declined to comment. 2020. 2021 half year. London, England, United Kingdom , Australia Sydney NSW. It is our international gateway and an essential part of our transport network, connecting to more than 90 destinations around the world. Sydney Airport is one of Australias most important domestic and international gateways it connects Sydney to more than 90 destinations around the world and handled over 44 million passengers in 2019. Sydney Airport is the only publicly listed airport in Australia. The June COVID-19 outbreak in Sydney has stopped domestic travellers flying in and out of the airport. More small investors in Sydney Airport are publicly venting their opposition to the company's proposed $23.6 billion takeover as a vote on the deal looms in early February, arguing its board is . A $23.6 billion cash takeover offer is appealing to Sydney Airport investors who are uncertain about how fast domestic and international flights will resume. The airports monopoly on local aviation will end in 2026 when the new Western Sydney Airport opens. International Terminal 1 3:00am - 11:00pm, Domestic Terminal 2 & 3 4:00am - 11:00pm. 2021 half year. Air traffic controllers had an average 20 shifts off at short notice last year. hit back at suggestions it exerts excessive influence. The proposal is conditional on a unanimous recommendation from the airports six-member main board and a separate Sydney Airport Trust board as well as satisfactory due diligence and regulatory approvals from the Foreign Investment Review Board and the Australian Competition and Consumer Commission. in-scope products. See an overview of Sydney Airport including performance highlights. Sydney Airports shares jumped almost 5 per cent on Monday, hitting their highest levels since the outbreak of the pandemic, after a consortium led by IFM Investors raised their indicative takeover offer to $8.75 per share and gained access to the companys financial books to do due diligence. UniSuper also has a favourable view of the consortium partners," the fund said. The airport had delivered a $403.9 million profit the previous year. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. With record-low interest rates, funds are looking at infrastructure investments for higher yields. Questions about your Securityholdings For questions on your past Sydney Airport Securityholdings, please contact Computershare Pty Ltd. Sydney Aviation Alliance's acquisition of Sydney Airport Ben Clark, TMS Capital portfolio manager. 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