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Connect Consortium Moves for Sydney Airport.

THE CONNECT Consortium, compromising ABN AMRO Bank, Challenger, Egis, Fraport AG Frankfurt Airport Services and the Schiphol Group has made an `indicative bid' to the Australian Government for Sydney's Charles Kingsford-Smith Airport (SYD). The airport was ranked 36 in terms of passenger numbers last year with 23.6 million. ABN AMRO is one of the world's leading investment banks and a leading player in air transport's financial dealings. The bank already has a strong presence in the Asia/Pacific region and is Europe's fifth largest bank. Challenger is a financial services company listed on the Australian stock exchange, while Egis is a global infrastructure company owned by the French CDC financial group. Foreign bidders are prevented from holding more than a 49% share, while those who already have a stake in Brisbane, Melbourne and Perth airports, are limited to owning up to 15% of SYD. Ownership by airlines has been restricted to 5%, which would appear to be a strong disappointment to the Singapore government, owners of both Changi Airport and Singapore Airlines, who had previously, express a strong interest in acquiring a slice of SYD.
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Publication:Airports International
Geographic Code:4EXHU
Date:Sep 1, 2001
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