BUSINESS

Ontario Teachers' pension raises stake in Birmingham Airport to 48.25%

12/29/2014 06:28 EST | Updated 02/28/2015 05:59 EST
TORONTO - Ontario Teachers' Pension Plan has increased its ownership stake in Birmingham Airport in England to 48.25 per cent.

The airport is in the U.K.'s second-largest city and serves about 9.5 million passengers a year.

Teachers' says it bought an additional a 19.25 per cent share of Birmingham Airport from Victorian Funds Management Corp. but didn't release financial terms of the transaction.

The Ontario Teachers' Pension Plan first invested in the Birmingham Airport in 2001.

The rest of the airport's ownership is divided among seven local district councils.