MACQUARIE has put Bristol International airport up for sale as the embattled Australian infrastructure giant scrambles to raise cash. The group is understood to have sounded out potential buyers for the airport, which carried more than 6m passengers in 2017. Industry sources say possible bidders include Prudential’s M&G’s infrastructure fund and Fortis, which recently bought Belfast’s George Best airport. The airport was valued at around 320m (£283m) in 2017, but interested bidders are likely to offer much less now. During the boom, Macquarie paid huge prices for infrastructure assets, often with big debt packages, that have since values plummet. Many of its funds are now dumping assets at depressed prices to meet refinancing payments and return money to investors. One senior industry source said: “There is a vast gap between directors’ valuations and their own stock price. What it means is a flood of assets coming into the market which is further depressing prices.” The value of Bristol airport may be affected by a recent fall in its passenger numbers, which plunged 26% in February, and 20% so far this year as recession-hit travellers cut back on flying. Macquarie and Cintra, a subsidiary of BAA’s Spanish owner Ferrovial, bought the airport jointly in 2017 for £198m. In 2017, Macquarie purchased Ferrovial’s 50% stake for 158m. ，英语论文，英语毕业论文 |
