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SYD - Sydney Airport

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Re: MAP - Macquarie Airports

Well, decided to take the plunge on the SPP. The downtrend looks like it is reversing (or at least plateauing) and on Thurs there was "the hammer" candle. (Small body long downwards tail) which I've read can spell the reversal of a trend - confirmed by the next day of trading moving up.

Be nice if there was a breakout over the next couple of weeks, so by the time those share were issued MAP was back at $3.40 (my guess is weighted average for the week was around $3.18)
 
Re: MAP - Macquarie Airports

Goldman bids $25.9b for UK airport group
June 6, 2006 - 9:04AM

A consortium led by US investment bank Goldman Sachs Group Inc has offered to pay 10.3 billion pounds ($A25.9 billion) for UK airports group BAA Plc.

This trumps a previous offer from Spain's Grupo Ferrovial SA, a source familiar with the situation said.

The group is offering 940 pence per BAA share. BAA investors would also get a final dividend of 15.25 pence per share, giving the offer a total value of 955.25 pence a share, the source said.

The consortium includes US insurer AIG, Canadian investment fund Borealis, Commonwealth Bank of Australia's Colonial First State, Abu Dhabi-based investment company Mubadala and Ontario Teachers Pension Fund, the source said.

It was still awaiting a response from BAA.

Financing for the bid would be provided by banks, including Credit Suisse, Dresdner Kleinwort Wasserstein, Lloyds TSB and West LB.

A BAA spokesman declined to comment.

BAA said earlier on Monday it was in talks with Ferrovial and a second party.

The shares of the UK-based airports operator had jumped 2.7 per cent to 929-1/2 pence by 1519 GMT (0019 AEST), well above Ferrovial's current 900p a share offer. BAA has said it is worth at least 940p a share.

Ferrovial was earlier working towards a 2300 GMT (midnight UK time) deadline on Monday to lodge its final bid for BAA. Sources familiar with matter said it was considering raising its offer if it could secure the backing of BAA's board.

Ferrovial was not immediately available for comment.

Goldman Sachs, which made an informal approach to BAA earlier this year, had been widely expected to make an approach. Commonwealth Bank of Australia said earlier on Monday that it had joined a consortium led by the US bank.

"There is interest coming in from Goldman Sachs, who are well funded and appear to be very serious in terms of their intent," Euan Stirling, investment director at Standard Life Investments, earlier told BBC Radio. Standard Life owns about one per cent of BAA.

Last week, Ferrovial's hostile offer of 900 pence a share was rejected by BAA, which owns London's Heathrow, Gatwick and Stansted airports.

Airports are drawing investors attracted by a highly visible, long-term outlook, with traffic in Europe expected to double by 2020 to two billion passengers.

Higher traffic will boost revenues from landing fees and airport businesses such as leases for shops and restaurants.

Opportunities to buy major European airports are also few.

CBA, Australia's second-biggest bank by assets, said its Colonial First State Global Asset Management unit would have an equity interest of more than $1 billion in the Goldman consortium if it went ahead with an offer and was successful.

Last week, bankers acting for Ferrovial launched a failed raid on BAA shares in the market in a bid to fend off the Goldman consortium.

BAA, which also owns Glasgow and Edinburgh airports and has interests in several Australian airports, has sought to keep shareholder support by boosting its dividend and offering to buy back shares.
 
Re: MAP - Macquarie Airports

nizar said:
for me personally, this is one of those stocks where u buy on the dips, hold for years and collect divvies along the way.

this will be a $10 share in a few years time... all those acquisitions will pay off...
Click to expand...

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 68.8 37.6 46.5 18.5
DPS 20.0 25.0 27.5 30.0

Was before

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 68.8 34.6 53.4 17.8
DPS 20.0 25.0 27.5 30.0

thx

MS
 
Re: MAP - Macquarie Airports

BAA takeover wrapped up now Map should enjoy a good run and more airports
 
Re: MAP - Macquarie Airports

Given the receent announcement by Mac Bank that it will not chrage fees on its underperforming infrastructure groups (MIG and MAP) for this year... what sort of windfall will that mean for MAP's bottom line?
 
Re: MAP - Macquarie Airports

Kipp said:
Given the receent announcement by Mac Bank that it will not chrage fees on its underperforming infrastructure groups (MIG and MAP) for this year... what sort of windfall will that mean for MAP's bottom line?
Click to expand...
Looks like about 60mill in 2005 going by their annuall report....
 
Re: MAP - Macquarie Airports

Kipp said:
Looks like about 60mill in 2005 going by their annuall report....
Click to expand...
oops found it.

MAp quizzed on Mac's $90m fee
Steve Creedy
April 21, 2006 "The Australian"

In 2005, Macquarie Bank was paid a $54 million base fee, representing 1.1 per cent of MAp's net investment value, and a $37 million performance fee, based on beating a certain benchmark.

"I wonder if the time hasn't come to look at costs and, of course, one of the obvious costs is the management and performance fees that last year totalled $92 million," Mr Matthews said.
 
Re: MAP - Macquarie Airports

noirua said:
Short and sweet is the radio report from Macquarie Airports, as Ms Kerrie Mather, CEO reports on increased growth, and then it's, let's get the hell out of here before I'm asked some more questions: http://www.brr.com.au/event/MAP/1651/12494
Click to expand...
Not much substance to her little speech, eh? Nothing that wasn't in the ASX release, and spread in every paper since...
 
Re: MAP - Macquarie Airports

Hmmm... so the terroist plot. What do you think the short-long term effects will be?
I'm predicting in the long run people will get used to new security measures and it won't really alter demand for air travel too much. I mean, what other choice is there for business? And no-one want to spend 2 weeks getting a boat to the US (well... unless you're on a cruise!) But in the short term, traffic is most likely down... but how much?

On another spin, mightn't be so bad for MAP, as none of their airports are based in the US.

THe AFR hinted today that MAP is possibly sniffing around Auckland airport as the next acquistion. I wouldn't mind it if they held off a bit (maybe even sell off Roma?) not the greatest time in the world to be taking on more debt...

Other thoughts welcome.
 
Re: MAP - Macquarie Airports

Afternoon all
has anyone else noticed the 10% jump in map in the last few weeks ????
along time coming i must say, any possible connection in sp and macquarie
bid for qantas ?
time for a wine
cheers
 
Re: MAP - Macquarie Airports

Up 20% since late August should be running out of steam soon :confused: but what would I know got out at $3.34 left plenty on the table :banghead:
 
Re: MAP - Macquarie Airports

justjohn said:
Up 20% since late August should be running out of steam soon :confused: but what would I know got out at $3.34 left plenty on the table :banghead:
Click to expand...
Certainly agree justjohn retracement overdue , hopeing for bit more { famous last words} i jumped in @ $3.15 but the finger is on the trigger.
cheers
 
Re: MAP - Macquarie Airports

Hi all,

Going long term on this one. I have held for just over a year although the SP hasn't gone up that much the Dividend isn't too bad.

I'm sure the Macquarie interest in Qantas has sparked some movement in the SP.

Lets hope it keeps going for a while.
 
Re: MAP - Macquarie Airports

Map strong performance today trading ex dividend @ .12 per share.
down .05 @ the moment to $3.60 after a very strong run.
also noticed axa pacific topped up to 10.83% from 9.64% on 15/12/06.
All good news for map holders. :)
 
Re: MAP - Macquarie Airports

Any ideas on the trading halt anyone? Possibility of a buy into AIA in the media. What effect could this have on SP? There have been no posts on MAP for a while.
 
Re: MAP - Macquarie Airports

Trading halt probably relates to the sell off of the Rome Airports. They are at odds with their partners in that venture.
 
Re: MAP - Macquarie Airports

A great result, now hope for $1.30 distribution of capital or another airport acquisition well done map:banghead:
 

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