Sydney Airport shareholders approved on Thursday a A$23.6 billion ($16.85 billion) cash takeover by infrastructure investors, though many small retail investors voted against delisting Australia’s only listed airport.
The Sydney Airport takeover, one of Australia’s biggest-ever buyouts, was backed by 96% of votes cast, but 20.7% of shareholders, representing a stake of 4%, were against the deal in a final voting tally.
After the deal is complete, UniSuper will join IFM Investors, QSuper, AustralianSuper and U.S.-based Global Infrastructure Partners as major shareholders.
Sydney Airport’s domestic traffic fell 74% in 2021 from 2019 level before the pandemic, while international traffic was down by 95.5%.
Read more: Nikkei Asia
