Sale Process for Sydney Metro Airports Bankstown & Camden

BAC Holdco Pty Limited (“BACH”), which holds the leasehold interests over the Bankstown and Camden Airports in Sydney, has announced its intention to commence preparations for the sale of the two Airports.  The Airports were privatised in 2003 and are held under long-term leases (85 years remaining) with the Commonwealth Government.

The sale will provide a unique opportunity to acquire key commercial, industrial and aviation infrastructure assets within the Sydney Basin with stable long-term cashflows and potential for growth. The Airports are to be offered for sale together.

As part of their on-going portfolio management and having invested significantly in building the Airports into successful commercial operations, the owners, comprising a number of institutional investors, are seeking to undertake a joint sale of their interests. The sale process is expected to formally commence in the first quarter of 2012.

BACH has appointed Grant Samuel Corporate Finance as its financial adviser.

Operations at the Airports will be unaffected by the sale process.

ENDS.