Pensions investor APG, Queensland Investment Corp. (QIC) and finance specialist Swiss Life have bought a 36 per cent stake in Brussels Airport from infrastructure investor Macquarie.
The deal, which is subject to regulatory approvals, is expected to complete by the end of 2019.
Macquarie Infrastructure and Real Assets (MIRA) said it was selling stake because its two investing funds – MEIF1 and MEIF3 – have reached the end of their 15-year investment term.
Since MIRA took a shareholding in Brussels in 2004 more than €1 billion ($1.1 billion) has been invested in facilities and developing the airport airside and landside and passenger trafic has risen by 60 per cent to 25.7 million in 2018.
APGA managing director global real assets, Patrick Kanters said the investment “represents an attractive opportunity to gain access to high quality, resilient infrastructure with promising long-term growth potential”.
“Together with our partners, we are excited to be working alongside existing Brussels Airport shareholders Ontario Teacher’s Pension Plan and SFPI/FPIM over the long term,” he added.