Investment firm Macquarie Airports of Australia has agreed a deal to sell 35.5% of Bristol Airport in the UK with the aim of throwing more funds into Copenhagen Airport in Denmark.

Ontario Teacher’s Pension Plan bought the Bristol stake previous held by Macquarie for $211m as Macquarie lifted its stake in Copenhagen by $112m, giving it 30.8% ownership of the airport.

Macquarie now owns only 4% of Bristol Airport.