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Allens advises on high-flying asset swap

Allens advises on high-flying asset swap

Allens Arthur Robinson has acted for MAp Airports (MAp) on its $1.6 billion asset swap with Ontario Teachers Pension Plans (OTPP).Under the terms of the swap, MAp disposed of its joint venture…

Allens Arthur Robinson has acted for MAp Airports (MAp) on its $1.6 billion asset swap with Ontario Teachers Pension Plans (OTPP).

Under the terms of the swap, MAp disposed of its joint venture interests in multiple European jurisdictions and increased its stake in Sydney.

MAp sold its interests in Brussels and Copenhagen airports in return for acquiring OTPP interests in Sydney Airport and a balancing payment of approximately $790 million.

The Allens team, acting as Australian legal counsel, worked alongside MAp's financial advisers, UBS and Macquarie.

The Allens team was led by partners Stuart McCulloch, Susan Burns and Julian Donnan, with senior associates Georgina Perry, Alex Borda and Caitlin Gill, and lawyer Jonathan Dillon.

Freshfields acted for OTPP.

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