Sydney Airport receives $16.7 bln buyout bid from consortium

FILE PHOTO: A mostly empty domestic terminal at Sydney Airport is seen after surrounding states shut their borders to New South Wales in response to an outbreak of the coronavirus disease (COVID-19) in Sydney, Australia, December 21, 2020. REUTERS/Loren Elliott/File Photo

SYDNEY: Sydney Airport Holdings Pty Ltd said on Monday a consortium of infrastructure investors had proposed a A$22.26 billion ($16.7 billion) cash buyout of the operator of Australia's biggest airport.(pic)

A consortium comprised of IFM Investors, pension fund QSuper and Global Infrastructure Management offered A$8.25 a share, a 42% premium to Sydney Airport's closing price on Friday, the airport operator said.