Bids in for Sydney airport

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The Australian government this week has received three indicative bids for the $2bn privatisation of the country's main hub Sydney Kingsford Smith airport. They are the Connect Consortium comprising Frankfurt airport services company Fraport, Schiphol Group, ABN AMRO Bank, Challenger, Egis; the Sydney Gateway Group which has BAA as its consultant alongside AMP, Deutsche Bank, Hastings Fund Management; and the Southern Cross consortium involving Macquarie Bank, CBA, Hochtief Airports and GE Capital.

Under the terms of the 100% privatisation, foreign bidders are limited to a 49% share whilst bidders with stakes in Melbourne, Brisbane or Perth airports are limited to 15%.