Canadian and a Danish pension funds acquired majority share in Copenhagen Airports

Copenhagen AirportsConsortium of Canadian and a Danish pension funds acquired 57.7% share in Copenhagen Airports from Australian company Macquarie. The value of transaction is about 1.57 billion USD (9.8 billion DKK). The transaction is subject of approval by relevant Danish and European Union authorities and is expected to be completed in the fourth quarter of 2017.

Canadian fund Ontario Teachers’ Pension Plan (OTTP) and a Danish pension fund ATP agreed to buy the stake in the airport, offering about 5,700 DKK per share, but said this could fluctuate depending on the date of completion.

The Danish state owns another 39.2% of the Copenhagen Kastrup Airports and Denmark Finance Minister Kristian Jensen said on Twitter he was “very satisfied” that the future ownership was clarified and was looking forward to working with the new shareholders.

More than 2.7 million passengers traveled through Copenhagen Airports in August representing 1.0% yoy growth. In particular, there was growth on long-haul intercontinental routes. A full 6.2% more passengers flew beyond Europe in August, continuing the trend for more passengers on intercontinental routes.