Date Closed

September 19, 2007

Lead Office

Toronto

Value

420.00 Million GBP

On September 19, 2007, Airport Group Investments Ltd. ("AGIL"), a limited company owned by the Ontario Teachers' Pension Plan and Victorian Funds Management Corp., announced that it had acquired a 48.25% interest in Birmingham International Airport, the sixth largest airport in the U.K., for approximately £420 million ($875 million Cdn). AGIL acquired the shares from Australia's Macquarie Airports Group Ltd. and Aer Rianta International c.p.t. West Midlands District Councils will retain their 49% interest in Birmingham Airport, while staff, through an employee share trust, will continue to hold the remaining 2.75%.

McCarthy Tétrault LLP represented AGIL, with a team that included Daniel Steiner, Nancy Carroll, and Rosemarie Wertschek.