Canada’s Public Sector Pension Investment Board (PSP Investments) has offloaded its remaining stake, in Australia’s Sydney Airport, amounting to 71.7 million shares in a A$405.8m deal.
The sale was priced at A$5.66 a share, at a 3.1% discount on the last trading of $5.81, reported The Australian.
The deal was executed by UBS as the sole lead manager and underwriter.
In March, PSP reportedly sold 40 million shares to superannuation fund Unisuper for A$212m.
UniSuper, which previously held 12.6% in the airport increased its stake to 14% with the March deal, and continues to be the largest shareholder.
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By GlobalData
While the buyer in the latest deal is not known, reports said that Unisuper has no restrictions on the maximum stake it can hold in a company, unlike other funds in the country.
Founded in 1919, Sydney Airport was taken over by the Australian Government in the 1920s. It was privatised in 2002.
Image: Sydney Airport services around 39 million passengers a year. Photo: courtesy of Sydney Airport Corporation Limited.
