Sydney Airport announced that it has received an unsolicited, indicative, conditional, and non-binding proposal from a consortium of infrastructure investors to acquire 100% of the stapled securities in Sydney Airport at an estimated price of AUD8.25 (US$6.20) cash per stapled security. The Consortium comprises IFM Investors, IFM Global Infrastructure Fund, QSuper, and Global Infrastructure Management.

The offer is equivalent to AUD22.3 billion (US$16.8 billion) for a 100% stake. Sydney Airport is Australia’s largest airport and is the gateway to international travel in and out of Australia.

Sydney Airport has appointed Barrenjoey and UBS as its financial advisers and Allens as its legal adviser.