Business Services Industry
Abbey National offloads Macquarie Airports.
Australasian Business Intelligence, July, 2003
Jul 15, 2003 (The Age - ABIX via COMTEX)
UK bank, Abbey National, has begun selling its non-UK investments. On 15 July 2003, Abbey offloaded the first of its Australian investments, a 3.8 stake in Macquarie Airports. The disposal of its 36 million Macquarie Airports shares, at around $A1.50 a share, also paves the way for the sale of its $A313.6m stake in Sydney Airports Corporation. A Macquarie Airports-led consortium acquired Sydney Airport in mid-2002 for a total of $A5.6bn. The sale of Abbey's stake in Macquarie Airports follows a rally in the Australian airport investment company's share price since May 2003.
Publication Date: 16 July 2003
MACQUARIE AIRPORTS - ASX MAP:
ABBEY NATIONAL PLC:
SYDNEY AIRPORTS CORPORATION LIMITED:...
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