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Unravelling MAp's airport strategy


Australian airports operator MAp has advised it has entered into exclusive negotiations following receipt of a non-binding, highly conditional Asset Swap Proposal (ASP) from Ontario Teachers’ Pension Plan Board (OTPP). The Proposal involves the potential sale of MAp’s non-controlling interests in Brussels Airport and Copenhagen Airports in exchange for OTPP’s 11.02% interest in Sydney Airport and a net cash payment of AUD850 million. [1259 words]

Unlock the following content in this report:


  • Arrivederci Roma
  • Two airport holdings figure in OTPP’s top investments
  • 100% MAp ownership at Sydney on the cards
  • Any interested buyers are likely to go direct
  • HTAC investors cannot force an outcome until April 2013
  • AIX will likely only get a read through valuation indicator

Graphs and data:

  • Forecasts and ratios - MAp
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