MAp Changes

AUSTRALIA’S MAp Airports (formerly Macquarie Airports) has taken a further 3% stake in Brussels Airport, increasing its shareholding from 36% to 39%.  The shares were acquired from Global Infrastructure Fund II, which is managed by MAp’s former parent, the investment bank Macquarie Group, for a reported €46.3 million ($66.7 million).
On September 16, 2009, MAp announced that it had agreed to divest its 35.5% interest in Bristol Airport to Ontario Teachers’ Pension Plan (OTPP) for £128m (US$205m) and to acquire a further 3.9% interest in Copenhagen Airports from OTPP for DKK570m (US$109m).
The financial closure of these transactions occurred on December 21, 2009.  MAp received a net cash inflow of A$98m (US$86m), which has been impacted by foreign exchange movements since September 16, 2009.
As a result of the transactions, MAp’s beneficial interest in Copenhagen Airports rises from 26.9% to 30.8%.  The additional interest is held directly, rather than through the existing holding company structure.