By Mike CherneySYDNEY--Sydney Airport said it agreed to a takeover proposal from a consortium of infrastructure investors that values the airport at 23.6 billion Australian dollars (US$17.4 billion), several months after the consortium first bid for the airport. The consortium includes IFM Australian Infrastructure Fund, IFM Global Infrastructure Fund, AustralianSuper, QSuper and Global Infrastructure Partners. "Today's announcement is the culmination of months of engagement between all parties," said Sydney Airport Chairman David Gonski. "The Sydney Airport boards believe the outcome reflects appropriate long-term value for the airport." Passenger traffic at Sydney Airport, like many airports around the world, came to a near-halt during the coronavirus pandemic because of various travel restrictions.

Source: Wall Street Journal November 08, 2021 04:18 UTC