IFM acquires stake in Manchester Airports Group following successful bid for London Stansted Airport

By IFM - 19 January 2013


Industry Funds Management (IFM) has announced it will take a 35.5% strategic stake in Manchester Airports Group (M.A.G).  This follows M.A.G’s announcement that it has been successful in its bid to acquire London Stansted Airport for £1.5 billion (AU$2.3 billion).

M.A.G is one of the largest airport operators in the UK with an outstanding track record of successful airport management. The Group owns and operates Manchester, East Midlands and Bournemouth airports currently. In the twelve months ending 31 March 2012, the Group’s passenger numbers rose by 6.7%, revenues increased by 8.6% and underlying operating profit was up by 26%.

IFM’s investment in M.A.G and the acquisition of London Stansted Airport are both expected to reach financial completion by the end of February.  It is the culmination of more than 18 months’ work by IFM developing a strong, long-term partnership with M.A.G. IFM worked in close partnership with M.A.G through the entire acquisition process of London Stansted Airport.  

M.A.G has a detailed integration plan in place to ensure seamless transition of ownership and operations at Stansted which will maintain business as usual for passengers and customers.

Kyle Mangini, IFM Global Head Infrastructure commented:

“As one of the largest airport operators in the UK, M.A.G has an outstanding track record of successful airport management.  IFM’s equity stake in M.A.G furthers our strategy of investing in high-quality, core infrastructure assets.”

IFM is the largest investor in Australian airports, with equity interests in the airports of five major capital cities.  In the UK, IFM holds interests in Anglian Water and Arqiva Limited, the UK’s largest broadcast and wireless communications infrastructure company.

Charlie Cornish, Chief Executive of M.A.G, commented:

“Our bid for Stansted Airport has been under development for a year and throughout this time we have been delighted to work closely with IFM to create a compelling and unique partnership.  Today’s announcement is excellent news for M.A.G and our shareholders; it marks the start of a new chapter for the Group.”

For media enquiries, please contact:

Nick Lucchinelli
[email protected]
+614 22 229 032