Consortium bids $23bn for Sydney Airport

A consortium of infrastructure investors has raised its bid to takeover Sydney Airport to $23.6 billion.

It is the third takeover bid for the airport by the consortium which includes IFM Investors, QSuper, AustralianSuper and Global Infrastructure Partners.

The airport reported a $97 million half-year loss for this year as it reels from the continued effects of the global pandemic.

If Sydney Airport accepted the bid it would still need approval from at least 75 per cent of shareholders, in addition to the greenlight from the Australian Competition and Consumer Commission and the Foreign Investment Review Board.