Future Fund Eyeing Macquarie’s Airports Stake
29. Mar, 2010
According to Reuters, “Australia’s sovereign wealth fund, the Future Fund, is considering buying Macquarie Group’s 23.2 percent stake in airports fund MAP Group, an Australian newspaper reported on Monday.
Macquarie is rumoured to be looking for a price of around A$1.5 billion ($1.36 billion) for the stake in the fund that it managed until last year, The Age newspaper said.
Macquarie Group declined to comment on the report, and a spokesman for the Future Fund was not immediately available. MAP shares rose 1.6 percent to A$3.13 after the report, outpacing a 0.3 percent gain in the broader market. At that price, a 23.2 percent stake in the fund, the world’s only infrastructure fund dedicated to airports, would be worth A$1.3 billion.”
read more: Reuters
