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DAA completes sale of Birmingham airport stakeDAA completes sale of Birmingham airport stake
Gavin Lipsith
20-Sep-2007
The proceeds of the sale will be put into the investment programme at Dublin airport, says the Dublin Airport Authority
The Dublin Airport Authority (DAA) has completed the sale of its 24.125% shareholding in Birmingham International airport for a gross consideration of £210m ($421.5m). The stake, which was held through DAA subsidiary Aer Rianta International, was sold to Airport Group Investments, a consortium comprising Ontario Teachers' Pension Plan Board and Victorian Funds Management Corporation)
DAA chairman Gary McGann said: “This has been a highly successful investment for the DAA and indirectly for the Irish taxpayer. The proceeds will be used principally to support the funding of the €2bn ($2.8bn) investment programme at
At the same time, Airport Group Investments also acquired the 24.125% shareholding in Birmingham
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