Canadian pension fund sells stakes in UK airports

LONDON - Ontario Teachers’ Pension Plan (OTPP) reached an agreement to sell its interests in three UK airport assets - Birmingham Airport, Bristol and London City Airport - to Macquarie Asset Management. The Canadian pension plan has been a long-term investor in these airports.

OTPP first invested in UK airport infrastructure in 2001, later acquiring direct stakes in Birmingham in 2007 and in Bristol in 2008.

"A 25 percent stake in London City Airport was acquired in 2016," OTPP said. "These airports have continued to serve tens of millions of passengers annually, driving connectivity across the country, continent and globe and together, play a central role in regional economic growth across the UK."

The pension plan also divested its indirect 39 percent stake of Brussels Airport.