Earlier this month, the Sydney Aviation Alliance – made up of QSuper, IFM Australian Infrastructure Fund, the IFM Global Infrastructure Fund and Global Infrastructure Partners (GIP) – submitted a $22.3 billion proposal to acquire all of the stapled securities in Sydney Airport Limited and Sydney Airport Trust 1 via a scheme of arrangement and a trust scheme.
The regulator told InvestorDaily it will look at “relevant competition issues” given that IFM, GIP and QSuper are involved with other local airports.
“The ACCC is aware of the proposal to acquire Sydney Airport and understand that any acquisition will be subject to ACCC clearance,” an ACCC spokesperson said.
“We will consider the acquisition once we receive a submission and will take a very close look at all relevant competition issues.”
The consortium believes that the proposal “would deliver significant value and economic certainty to Sydney airport securityholders and is in the long-term interest of Sydney and the travelling public”.
Neil Griffiths
Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.
Neil is also the host of the ifa show podcast.
