West Midlands councils are keeping a close eye on Birmingham International Airport as bidders vie for a major share.
Seven councils – Birmingham, Coventry, Wolverhampton, Dudley, Sandwell, Walsall and Solihull – own 49% of the company’s shares, while 2.75% are in an employee share trust.
Now, a reported eight companies are to due to submit their outline bids to Macquarie and Aer Rianta for their 48.2% share of the company for an estimated £600m. Both Birmingham International Airport and Macquarie are remaining tight-lipped about the bidding process.
An airport spokeswoman said: ‘A number of meetings have been held to discuss the proposed sale of shares by Macquarie and Aer Rianta International. ‘An announcement will be made in due course, once all parties involved are satisfied that the most suitable decision, for the future of the airport and the region, has been made.’ While Macquarie would only say it was ‘still in the process of assessing the bids’.
But any bid will need to meet the approval of the seven shareholding West Midlands councils. A Birmingham City Council spokeswoman said: ‘We do have pre-emptive rights over any bid.’
The airport has been earmarked by the Government for future growth.
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