Most airports are already owned by infrastructure and investment funds. Other states have closed borders to Sydney residents. The Omicron variant of COVID-19 has disrupted the aviation industrys recovery, with Virgin Australia suspending flights because of staff being ill with the virus or isolating. We have mapped the SDG framework against our sustainability strategy to show how we are contributing to the achievement of the SDGs. IFM already owns stakes in Melbourne, Brisbane, Perth, Adelaide airports as well as NT airports, which include Darwin, Alice Springs and Tennant Creek airports. 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 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. Read more about the transaction here. He has specialised in financial journalism for most of his career and covers equity and debt capital markets across Asia and Australian M&A. . 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. Our Sustainability Policy sets out our commitment to sustainability and our latest Sustainability Report provides a window into our strategic objectives, initiatives and performance for the year. The fact Sydney Airports board has granted diligence after rebuffing two earlier bids, is likely to be taken as a strong sign Sydney Airports board would be willing to recommend shareholders accept a bid at $8.75 a share. 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. 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. Follow the topics, people and companies that matter to you. Archive of ASX listed Sydney Airport (ASX: SYD), Sydney Aviation Alliances acquisition of Sydney Airport. 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. Mr Clark said he would be reluctant to sell the airports shares into the current offer. Family Property investors we do Rent to Rent /Sublet and we are Landlords of properties in Luxury areas in UK and Overseas. On 10 March 2021, the European Unions Sustainable Finance Disclosure Regulations (SFDR) became effective. Its stock soared 34 per cent on Monday to close at $7.78, its highest level since February 2020. Air traffic controllers had an average 20 shifts off at short notice last year. 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. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. The revised offer comes after a two-month tussle between the consortium and Sydney Airport. 2021 Half Year Financial Report and Appendix 4D. 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. Follow the topics, people and companies that matter to you. While we are of the belief international travel will return to pre-COVID levels in 2024, the trajectory of the recovery despite vaccination rates improving globally remains uncertain, JPMorgan said. early this year which has met a cool reception from shareholders. JPMorgan said the latest offer values the airport at an enterprise multiple of 23.3 times 2019 earnings, compared with its pre-COVID-19 valuation estimate of 21.5 times earnings. Sydney Airport acknowledges the Traditional Custodians of the lands, waterways and skyways where we work and in which we live. We need to make sure that there is some diversity, and that the public has access [to assets], he said. 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. Sydney Airports Sustainable Design Guidelines embed sustainability considerations into the ideation, concept, design development, detailed design, delivery and implementation of all building projects at Sydney Airport by setting minimum requirements in key areas of sustainability. There is not a whole lot of choice out there if you trade through public exchanges. Some investors have questioned why they should sell their shares when the airports biggest investor, UniSuper, will keep its 15.01 per cent equity stake. Our ambition is to be an industry leader in sustainability. 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. Sydney Airport Holdings said on Monday it has agreed to accept a A$23.6 billion ($17.5 billion) takeover bid from an infrastructure investor group in one of Australia's biggest buyouts. 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. SCACH Financial Report for the half year ended 30 June 2021. We think that it would be hard for an alternate bidder to come forward given the parties involved here are the key players of Australian infrastructure and foreign ownership is limited to 49 per cent.. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. It means a binding deal could be signed as early as next month, and IFM Investors and the other investors could formally take control of the company early next year. UniSuper would have a 15 per cent stake and QSuper would have a 7.5 per cent stake. A rigorous development assessment process has been established to enable Sydney Airport to address its obligations under the Airports (Building Control) Regulations Act 1996. Sydney Airport is one of Australias most important pieces of infrastructure. In July last year Mr Robilliard wrote to the airport asking the board to reject any takeover bid, after it received an indicative offer priced at $8.25 per share. Details on our contribution this year is available here. IFM Investors is bidding with US infrastructure investment firm Global Infrastructure Partners and domestic superannuation funds AustralianSuper and QSuper. UniSuper has ample liquidity to invest in other assets without having to liquidate current holdings, Mr Pearce said. 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. ", Australia's international borders are widely expected to remain closed until at least the end of the year due partly to a slower vaccination programme than in most developed countries. The requirements within these guidelines are informed by Sydney Airports sustainability policy, strategy and commitments and the master planning process. For any questions about your past Sydney Airport Securityholdings, please contact Computershare Pty Ltd (Sydney Airports security registry) by calling +61 (0)3 9415 4000 or 1300 850 505 (within Australia). Wed hate to lose it because where do you put that money? The board is understood to have granted IFM Investors and its bid partners due diligence, which would start this week. Obviously, that was seen as the area that we wanted to do first. 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 . SCACH Financial Report for the year ended 31 December 2021. The Sydney Airport board recommended shareholders vote to accept the offer. cutting their 12-month price targets on the airports stock, after suffering a $145.6 million annual loss. View our latest financial statements and Annual Reports here. rising power of industry superannuation funds. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The Sydney Aviation Alliance - a consortium comprising IFM Investors, QSuper and Global Infrastructure Partners - has offered A$8.25 per Sydney Airport (SYD.AX) share, a 42% premium to the stock's Friday close. The airports monopoly on local aviation will end in 2026 when the new Western Sydney Airport opens. The United Nations Sustainable Development Goals (SDGs) seek to address the most significant challenges our world is facing today. So it's a matter for the New South Wales Government who are actually building it, as they're the contractors. IFM has claimed that using locations like the Cayman Islands to manage its assets is a legitimate mechanism for preventing the double taxation of investors and that it has helped the group become a big successful international investor.. It also sets out our approach to incorporate sustainability into the planning and design for future Sydney Airport expansion. https://www.sydneyairport.com.au/ Chief executive Geoff Culbert has called for Australia to develop a plan to open international borders in a safe and risk-based way and also keep state borders open. Analysts have been cutting their 12-month price targets on the airports stock after the federal government signalled national borders were unlikely to open until mid-2022. 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. Sydney Aviation Alliance said it did not anticipate making substantive changes to the airport's management, services, operations or target credit ratings. 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 proposal comes as record-low interest rates prompt pension funds and their investment managers to chase higher yields. Sydney Airports SLL represents the first syndicated SLL in Australia, largest syndicated SLL across the Asia Pacific and largest syndicated airport SLL globally. Euphoria star Sydney . 2010 MAp 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. 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 $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. But . While 362 investors hold more than 100,000 shares each, accounting for about 80 per cent of the companys shares outstanding, there are more than 150,000 investors holding much smaller parcels of stock. 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%. The discount to offer price that Sydney Airports shares trade at likely reflects the hurdles the consortium needs to get through. Bloomberg, Sydney Airport will move back to a smooth operation with excellent returns for the long-term investor.. of the communities in which they live. Ben Clark, portfolio manager at TMS Capital which has owned the airports shares for a decade and currently has a stake of less than 1 per cent, said the takeover bid highlighted the short-term focus of some investors that had sold shares after COVID-19 broke out and most air travel stopped. We see the revised offer price as fair, Mr Haralambidis said. resume Sydney-Vancouver flights on December 17. Mr Pinn, who is also a director of the Association of Independently-Owned Financial Professionals, started buying shares in Australias biggest airport more than 20 years ago and has accumulated more than 100,000 shares. The deal, occurring via a scheme of arrangement, needs approval from a majority of shareholders by number (and at least 75 per cent by value of shares held) at an investor meeting on February 3. 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.. 2007 MAp Tax Statement Guide. Follow the topics, people and companies that matter to you. It's a great example of critical infrastructure The Hartbeespoort dam in South Africa used to be brimming with people enjoying scenic landscapes and recreational water sports. 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. IFM Investors has secured access to Sydney Airport's books with a revised bid valuing the airport owner at more than $32 billion. International Terminal 1 3:00am - 11:00pm, Domestic Terminal 2 & 3 4:00am - 11:00pm. They also support the delivery of Sydney Airports strategy, which is underpinned by an aligned culture focused on sustainability. 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. 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. In a statement, Sydney Airport . It is our international gateway and an essential part of our transport network, connecting to more than 90 destinations around the world. The latest price offered by the consortium was pretty attractive over a one- to three-year horizon given uncertainty about when state and national border restrictions would ease and how fast air travel would rebound after the COVID-19 pandemic, Mr Clark said. It is an essential piece of the transportation network connecting Sydney to over 100 regional, national and international destinations. 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. 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