Shareholders approve Sydney airport changes

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Shareholders in Sydney Airport Holdings have approved changes that will simplify its ownership of the lease on Sydney airport.

The company says in a statement to the Australian Securities Exchange that shareholders passed resolutions at an extraordinary general meeting that authorises it to issue shares to four investment funds in return for their stakes in the lease.

The funds include the Australian government’s Future Fund, Hochtief AirPort and two Australian superannuation funds – UniSuper and MTAA.

The airport operator announced in August plans to simplify its ownership structure by mopping up the 15.2% stake in the company that holds the airport lease.

The company says it expects to complete the process by the end of the year.