ATP acquires Ontario Teachers’ stake in Copenhagen Airports A/S
Following Ontario Teachers’ Pension Plan Board’s (Ontario Teachers’) decision to sell its indirect ownership stake in Copenhagen Airports A/S, and as a result of ATP exercising a pre-agreed right of first offer, ATP has entered into a final purchase agreement with Ontario Teachers’ to acquire its ownership stake in the jointly owned holding company Kastrup Airports Parent ApS (KAP). Now, only the necessary clearance from the relevant regulatory authorities remains outstanding.
Copenhagen Airports has developed significantly under the ownership of ATP and Ontario Teachers’. Following a difficult period for global aviation during the Covid-19 pandemic, the airport has spent the past few years restoring traffic and expanding capacity and is now in a strong financial position.
Martin Præstegaard, CEO of ATP, acknowledges the collaboration with Ontario Teachers’:
“Thank you to Ontario Teachers' for a truly great partnership in the ownership of CPH. We joined the airport in 2017 as a committed and long-term investor and we are pleased to have played an active role in the transformation of the airport. Today, the airport is financially well-positioned for the future, and in just a few years, passengers will be welcomed to completely new facilities. This is a development that both we and Ontario Teachers’ can be proud to have actively contributed to – and a development that has taken place despite a few difficult years during Covid-19.”
ATP’s acquisition of the shares in KAP is a prerequisite for the agreement ATP has entered to subsequently sell the shares in Copenhagen Airports A/S to the Danish State.