WATCH: Sydney Airport said it has agreed to accept a $17.5 billion takeover bid from an infrastructure investor group in one of Australia's biggest buyouts
"The Sydney Airport Boards believe the outcome reflects appropriate long-term value for the airport, and unanimously recommend the proposal," Chairman David Gonski said.
"We look forward to securityholders voting on the proposed deal," IFM Investors Chief Executive David Neal said in a statement on behalf of the consortium. "Our alliance represents many millions of Australians ... and we intend to work hard to bring more flights and passengers back to the airport as the aviation industry emerges from COVID-19."
IFM Investors owns large stakes in airports in other Australian state capitals, including Brisbane and Melbourne.
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