Aussie giant Macquarie takes off with stake in London City Airport

The Australian fiscal elephantine Macquarie is adjacent to snapping up a involvement successful London City Airport – the capital’s fifth-biggest – amid a wider shake-up successful its ownership structure.

Sky News understands that Macquarie Asset Management is nearing a woody to bargain a number involvement successful the Docklands airdrome from astatine slightest 1 of its clump of Canadian shareholders.

Industry sources said City Airport was preparing to marque an announcement astir changes to its shareholder basal arsenic soon arsenic this week, though the Macquarie woody whitethorn instrumentality somewhat longer to finalise, they added.

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The valuation of immoderate statement was unclear connected Monday.

It follows reports earlier this twelvemonth that Omers and AIMCO, 2 large Canadian pension funds, had hired bankers astatine Morgan Stanley to counsel them connected the merchantability of their involvement successful the London airport.

Macquarie was named astatine the clip arsenic a imaginable purchaser of the 25% involvement owned by Ontario Teachers' Pension Plan (OTPP).

London City Airport has been fixed support to summation rider numbers from 6.5 cardinal annually to 9 million, though it was denied the accidental to widen its Saturday operating hours.

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It is present seeking different regulatory concessions successful bid to accelerate its growth, with Britain's aviation capableness featuring prominently connected the UK's economical precedence list.

Macquarie has been a prolific capitalist successful UK airports, having announced the merchantability of AGS - comprising Aberdeen, Glasgow and Southampton airports - earlier this year.

Spokespeople for London City Airport, Macquarie and OTPP declined to comment.