The Australian financial group Macquarie wants to sell its 36% stake in Brussels Airport, wrote De Tijd and L’Echo on Tuesday. The main obstacle to its disinvestment has been a conflict with the other shareholder OTPP. The national airport has three shareholders: Macquarie (36%), the Canadian pension fund OTPP (39%) and the Belgian state (25%).
Macquarie indicated at the beginning of the year that it wanted to sell its share. OTPP has a right of first refusal over any sale, but Macquarie decided to also talk with other interested parties.
The pension fund therefore appealed to an arbitration tribunal in London to prevent Macquarie from disclosing confidential information to third parties about the airport.
According to the newspapers, the conflict has been resolved and the sale will be launched in the coming weeks. The newspapers have calculated that Macquarie’s share is worth around € 1.5 billion. Macquarie paid € 735 million for 70% of the shares in 2004.