MAp’s portfolio reshuffle gains investor approval, Ferrovial surges on imminent merger with Cintra
MAp also simultaneously increased its stake in Copenhagen Airport, which has a much lower debt profile than Bristol Airport and is showing signs of improving profitability, according to MAp CEO, Kerrie Mather.
Ms Mather added, “with the MAp portfolio having grown significantly over the past five years, Bristol now represents just 4% of our portfolio by value and we feel that our investors are better served deploying our assets elsewhere.”
MAp shareholders are scheduled to vote on MAp’s plans to internalise management and buy the management rights from parent, Macquarie Group, for AUD345 million on 30-Sep-2009.
Elsewhere in the Asia Pacific region, Japan Airport Terminals’ shares fell a further 2.2%, continuing recent weakness related to Japan Airlines' troubles, while Shenzhen and Guangzhou airports’ shares fell back 1.6% and 1.5%, respectively.
Ferrovial gains as merger talks with Cintra continues
Shares in Spanish construction firm, Ferrovial, surged 9.2% in trading yesterday, following a 6% gain in infrastructure firm, Cintra. The two companies are currently in the process of negotiating a merger and will seek shareholder approval in late-Oct-2009.
Aeroports de Paris’ traffic slump continues
Aeroports de Paris’ shares gained 1.6% yesterday following the release of its Aug-2009 traffic results. Traffic decline at Paris’ Charles de Gaulle and Orly airports reported further deterioration from Jul-2009.
Aeroports de Paris traffic highlights in Aug-2009:
- Passenger numbers: 8.1 million, -3.5% year-on-year;
- Aircraft movements: 63,106, -6.9%;
Selected airports daily share price movements (% change): 16-Sep-2009