Teachers' says it would buy a larger stake in Bristol Airport if Macquarie sells

TORONTO – The Ontario Teachers’ Pension Plan says it plans to acquire a larger stake of the Bristol Airport in the U.K., if Australian asset firm Macquarie Group sells its 50 per cent holding of the regional airport.

British newspaper The Sunday Times has reported that Macquarie is scouring the market for interested buyers, which led the Canadian pension plan operator to comment.

“We intend to exercise our right of first offer if Macquarie Group sells their stake,” said Teachers’ spokeswoman Deborah Allan in an email.

“Bristol is an asset and industry that we know and understand well, in a geography we also know and like. “

Teachers’ already has a 49 per cent stake in the property, while the remaining one per cent is held by the Sydney Airport.

The Ontario pension fund also owns a 48 per cent stake in the Birmingham International Airport, a 30 per cent holding in the Copenhagen Airport and 39 per cent of the Brussels Airport.