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TheMoodieReport.com: "Macquarie Bank appointed to handle sale of BAA’s Australian airport assets – 03/01/07
Source: Australian news agencies; The Moodie Report
By Dermot Davitt
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AUSTRALIA. BAA has appointed Macquarie Bank to handle the sale of its Australian airport assets. BAA’s investments include 19.8% of Melbourne Airport and 15% of Perth Airport, with significant stakes in Darwin, Alice Springs and Launceston airports.

Macquarie is expected to begin talks later this month with prospective buyers for the assets which should fetch more than A$500 million.

The Australian Infrastructure Fund (AIF), an investor in Melbourne and Perth airports, has pre-emptive rights to bid for BAA's interests.

An independent valuation last year of Australia Pacific Airports Corp, which owns Melbourne and Launceston airports, valued BAA's 19.8% stake at about A$400 million.

The valuation, commissioned by AIF, put BAA's stake in Perth airport at A$120 million.

The UK airport operator is reviewing its assets following its acquisition by a group led by Ferrovial of Spain last year. It is also finalizing the sale of Budapest Airport to Hochtief. "