DAA Completes Sale of Stake in Birmingham Airport

The Dublin Airport Authority (“DAA”), through its wholly-owned subsidiary Aer Rianta International cpt. (“ARI”), is pleased to announce it has completed the sale of its 24.125% shareholding in Birmingham Airport Holdings Ltd for a gross consideration of £210 million.

The sale, to Airport Group Investments Limited (a consortium comprising Ontario Teachers’ Pension Plan Board and Victorian Funds Management Corporation),  was structured as a joint sale of ARI’s shareholding and the 24.125% shareholding held by Macquarie Airports Group, for a gross consideration of £420 million.

Welcoming completion of the sale process, DAA Chairman, Gary McGann noted that the DAA’s ten-year investment in Birmingham Airport Holdings had yielded very high returns in terms of capital appreciation and dividend payments.

“This has been a highly successful investment for the DAA and indirectly for the Irish taxpayer. The proceeds will be used principally to support the funding of the €2 billion investment programme at Dublin Airport, which will transform the travel experience for all the airport’s customers,” he added.