The Ontario Municipal Employees Retirement System (OMERS) is competing for a 36 per cent stake in Brussels Airport and is a strong contender to win, according to sources who spoke with Reuters. Australian infrastructure fund Macquarie hired JPMorgan in early 2017 to help sell the stake, valued at €2.2 billion. Final bids are due in mid-March. (Reuters)
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The Ontario Municipal Employees Retirement System (OMERS) is competing for a 36 per cent stake in Brussels Airport and is a strong contender to win, according to sources who spoke with Reuters. Australian infrastructure fund Macquarie hired JPMorgan in early 2017 to help sell the stake, valued at €2.2 billion. Final bids are due in mid-March. (Reuters)
Talking point: This is a mostly Canadian affair with two Canadian pension funds vying for a stake in the airport. The Canada Pension Plan Investment Board is leading a competing consortium that includes Dutch pension fund PGGM and a local Belgian insurance player AG, part of multinational insurance company Ageas. Meanwhile, the Ontario Teachers’ Pension Plan (OTPP) bought a 39 per cent piece of the airport in 2011, and recently settled a legal dispute that allowed the current sale to move forward. This wouldn’t be OMERS’ first airport; along with a larger consortium that included the OTPP, it bought the London City Airport in 2016.
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