Macquarie Group’s Infrastructure and Real Assets (MIRA) arm and Tasplar Super are selling a 70 percent stake in the Hobart International Airport in Cambridge, Australia, to a consortium led by Queensland Investment Corporation (QIC) and Royal Schiphol Group.
Macquarie said it will divest its 50.1 percent stake in the airport, while Australian superannuation fund Tasplan will sell its 19.9 percent stake.
The transaction amount was not disclosed.
MIRA and Tasplan acquired their stakes in the airport on behalf of investors in 2007 and funneled more than A$150 million ($100 million) into it since in an effort to better connect Tasmania’s economy with mainland Australia, and beyond.
With the investment, passenger numbers grew by more than 50 percent, from 1.7 million in 2008 to more than 2.7 million in 2019, making Hobart one of the fastest-growing Australian airports, according to Macquarie.
The airport underwent a major terminal refurbishment, as well as the construction of a 6,000-square-meter freight storage facility to support Tasmania’s fresh produce market, and more expansion work is currently under way.
“During our 12 years of ownership, we have worked closely with airport management to significantly enhance this essential asset for the people of Tasmania and their visitors, supporting growth in tourism and making an important contribution to the local economy,” said Grant Smith, head of MIRA infrastructure Australia. “We are pleased to be leaving the airport in a strong position to serve this thriving region of Australia and to be transitioning our stake to a consortium of experienced, long-term investors.”
The sale is expected to close by the end of October.
