IFM acquires additional stakes in NT Airports and Australia Pacific Airport Corporation

By IFM - 15 March 2013

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The IFM Australian Infrastructure Fund, has exercised its pre-emptive rights to acquire from the Australian Infrastructure Fund equity stakes in Airport Development Group (‘NT Airports’) and Australia Pacific Airport Corporation (‘APAC’).

This move increases IFM’s ownership position in NT Airports, which includes Darwin, Alice Springs, and Tennant Creek airports, from 55.6% to 77.4%.

IFM has also increased its stake in APAC from 20.7% to 23.7%. APAC owns Melbourne Airport and holds 90% of Launceston Airport.

“We are very pleased to deliver this outcome to our investors,” said Kyle Mangini, IFM’s Global Head of Infrastructure.

“This is a rare opportunity to increase our ownership interests in proven, quality Australian airports.”

IFM is the largest investor in Australian airports, with investments in five Australian airport companies comprising nine airports.