Airport Technology
The Australian Competition and Consumer Commission (ACCC) has given the approval to Sydney Aviation Alliance (SAA) consortium’s proposed acquisition of Sydney Airport (SYD), conceding that it will pose minimal competition concerns.
While highlighting the country’s airports are ‘natural monopolies, with significant market power and no price regulation,’ the watchdog said that it will not oppose the $17.4bn (A$23.6bn) takeover bid from SAA.
This consortium, which includes IFM Investors, QSuper and AustralianSuper and Global Infrastructure Partners, has proposed to acquire shares of Sydney Airport Security holders at $6.47 (A$8.75) apiece.
