The Ontario Teachers’ Pension Plan (OTPP) is reportedly exploring the sale of its stakes in Birmingham, Bristol, and London City airports, alongside Copenhagen and Brussels airports.
The portfolio is valued at over £10 billion, according to The Guardian. Talks are underway with minority shareholders, who have a 30-day first-refusal option, but smaller stakeholders may also opt to sell their shares.
OTPP holds stakes of 25% to 70% in the airports and is approaching potential outside buyers, including Australian investor Macquarie, if minority shareholders decline the offer.
The game of corporate pass the parcel was sparked by Ferrovial and Macquarie's decision to offload Aberdeen, Glasgow, and Southampton airports for £1.5 billion to Canada's PSP.