BIA welcomes Airport Group offer
Birmingham International Airport (BIA) has welcomed the announcement
of a preferred bidder for the 48.25% of shares in the company offered for sale
by Aer Rianta International and Macquarie Airports Group.
The preferred bidder - the Airport Group Investments Limited, a limited company owned by the Ontario Teachers’ Pension Plan and Victorian Funds Management Corporation – made an unconditional offer of EUR420 million for the 48.25% joint holding. Aer Rianta and Macquarie have accepted the offer. Airport Group Investments Limited will now open discussions with the seven West Midlands Districts who retain pre-emption rights.
BIA also acknowledged the continuing commitment of the seven West Midland District Councils, the Airport’s main shareholders, to ensure that BIA continues to play a fundamental role in the economic success of the Region.
The Airport Group Investments Limited has also committed to funding a runway extension.
BIA’s acting Managing Director, Joe Kelly stated “under the current public/private partnership shareholding arrangements, BIA has grown and developed tremendously over the last ten years. The Airport now supports some 11,000 jobs and directly contributes over EUR220 million p/a to the Midlands economy.”