Freshfields advises Ontario Teachers’ on sale of stake in Copenhagen Airports

Global law firm Freshfields is advising Ontario Teachers’ Pension Plan Board (‘Ontario Teachers’’) on its agreement to sell its stake in Copenhagen Airports A/S (‘CPH’), to co-shareholder and Danish investor Arbejdmarkedets Tillægspension (‘ATP’). Ontario Teachers’ and ATP have held a joint control stake in the airport since 2017.

Ontario Teachers’ has been an investor in CPH since 2011, when it acquired a joint control stake in the airports, on which Freshfields also advised. Over the past 14 years, significant investments totalling almost DKK 18 billion have been made to modernise and expand CPH. The airport is currently undergoing the largest investment in its history, with a significant airside expansion project to facilitate future growth. The key focus of the investment over the period of Ontario Teachers’ ownership has been to improve capacity and the passenger experience, and position CPH for sustainable long-term growth.

The transaction is subject to the necessary regulatory clearances.

The Freshfields team is being led by Ontario Teachers’ relationship partners Patrick Ko and Richard Johnson, together with Emily Szasz on tax matters, Paul Van Den Berg and Alastair Mordaunt on regulatory matters, and Jenny McIvor on financing matters.