Ontario Teachers looks to buy Macquarie’s stake in Bristol Airport

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bristolThe Ontario Teachers’ Pension Plan is reportedly looking to buy the remaining stake in Britain’s Bristol Airport.

The pension fund currently holds a 49 per cent interest in the airport and holds the right of first offer for the 50 per cent stake owned by Macquarie Group, which is currently looking to sell it.

Ontario Teachers is looking to buy Macquarie’s stake for as much as £250m, said Reuters, citing a source closely monitoring the situation.

“Given the right of first offer, Ontario Teachers is likely to purchase the stake, but this will of course be based on an appropriate valuation,” said the person.

According to the source, discussions are expected to start very soon.

Ontario Teachers first backed the airport in 2004 and increased its stake to 49 per cent seven years later.

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