The sale process of North Queensland Airport takes flight this week when the data room opens to bidders. Sources suggest the most likely suitors for the Cairns and Mackay airports owner are groups including Kohlberg Kravis Roberts, Stonepeak and EQT.
Japan’s Soljitz, which bought Lendlease infrastructure investor Capella Capital for $235m this year, is also believed to be looking. It’s likely keen to capitalise on the appeal of destinations like Cairns to Japanese tourists.
Dexus Group is understood to have cooled on the opportunity.
Earlier, Amsterdam Airport owner The Schiphol Group and France-based investor Vinci were interested.
The asking price is believed to be as much as $3bn.
The asset is unlike other airports on offer where regulations stipulate that global buyers cannot own more than 49 per cent.
North Queensland Airports owns Cairns and Mackay Airports, and the Mackay Airport Hotel and the business is up for sale through Macquarie Capital. The Infrastructure Fund owns 27 per cent of North Queensland.
A JPMorgan Asset Management-controlled fund owns 66 per cent, while the other owner is Perron with 7 per cent.
In 2018, Auckland International Airport offloaded its 24.6 per cent stake to Perron and The Infrastructure Fund for $370m.
Cairns Airport says that before the pandemic it catered to more than five million passengers per year.
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