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Bloomberg
Sydney Airport agreed to sell itself to a consortium of funds for $17 billion, just as Australia reopens its borders to international travel.
The airport’s board accepted an offer of A$8.75 per share from a group led by IFM Investors, and unanimously recommended shareholders vote to approve the deal early next year, the company said. The agreement is the latest among a spate of recent take-private transactions involving infrastructure assets and Australia’s retirement funds.
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Sydney Airport had earlier rejected two previous bids from the consortium, starting with an initial offer of A$8.25 per share in July.