Ontario Teachers’ Pension Plan has purchased an additional stake in Birmingham Airport (BHX) from Victorian Funds Management Corp. (VFMC) for an undisclosed amount.
The purchase of VFMC’s 19.25% ownership increases Teachers’ holding in BHX to 48.25% from the current 29%.
Teachers’ made its initial investment in the airport in 2001 and increased its stake in 2007.
BHX is located within the second largest city in the United Kingdom and serves approximately 9.5 million passengers per year. Seven local district councils (the district shareholders) will continue to hold a significant ownership position in BHX.
“Birmingham Airport is a high-quality asset that we know well. It has good growth prospects, and we look forward to working with our partners to strengthen its position as a key regional airport in the U.K.,” says Andrew Claerhout, senior vice-president, infrastructure. Increasing our investment reflects our strategy of continuing the development of our airports platform.”
Teachers’ investment is led by its infrastructure group, which manages a global portfolio of $11.7 billion of direct infrastructure investments, including water and waste water, electricity distribution, gas distribution, power generation, high-speed rail and port facilities. Airport investments include Bristol, Copenhagen and Brussels.
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