Airport owner MAp Group
(ASX:MAP) has finalised the sale of its 35.5% interest in Bristol Airport, receiving $22 million less in cash as a result of foreign exchange movements.
MAp announced the sale of its stake in Bristol Airport to Ontario Teachers’ Pension Plan for $244.23 million in September.
After financial close of the transaction yesterday, MAp says it received a net cash inflow of $98 million, down on the original amount expected of $120 million, impacted by foreign exchange movements since September 16, 2009.
As part of the deal MAp acquired an additional 3.9% stake in Copenhagen Airports for $130.17 million, taking its stake in Copenhagen to 30.8%.
MAp Group earned over $2 billion in calendar 2008.
