OMERS to bid for Macquarie's stake in Brussels airport

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Ontario Municipal Employees Retirement System (OMERS), a Canadian pension fund, is reportedly planning to bid to take over the 36% stake in Brussels Airport owned by Macquarie Group. 

OMERS will be competing against two consortia for the acquisition. The first is comprised of Dutch pension fund manager APG and Australian infrastructure fund QIC, while the second contains Canada Pension Plan Investment Board (CPPIB), Dutch pension fund PGGM and Belgian insurance company AG.

The Abu Dhabi Investment Authority and Allianz are also thought to be interested in the stake. 

Brussels Airport is an international airport located around 12km northeast of Brussels, the capital of Belgium. It handled more than 24 million passengers in 2017, making it the 23rd busiest airport in Europe.

Macquarie Group has owned a stake in the airport for around 10 years. In 2017, it commissioned JP Morgan to manage the divestment process as the asset is the sole remaining facility of its first European infrastructure fund. The sale represents around EUR2.2 billion (US$2.5 billion) including debt.

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