Global law firm Freshfields is advising Ontario Teachers’ Pension Plan Board (‘Ontario Teachers’’) on its agreement to sell its stake in Brussels airport (BRU), to Flemish public investment company ParticipatieMaatschappij Vlaanderen (PMV).

Ontario Teachers’ first invested in Brussels Airport in 2011 and, over the past 14 years, has worked with other shareholders and management to position BRU as a leading national growth engine for Belgium, and one of Europe’s leading transport hubs. BRU has focused on improving the passenger experience and expanding the number of destinations served, ensuring that the airport is well-positioned for growth in the decades ahead. Today the airport contributes €8.8 billion to the Belgian economy annually and provides over 64,000 jobs. 

The transaction is subject to the necessary regulatory clearances.

The Freshfields team is being led by Ontario Teachers’ relationship partner Richard Johnson, together with principal associate Florence Goffin and partner Vincent Macq, with partner Emily Szasz on tax matters, partner Paul van den Berg on regulatory matters and partner Jenny McIvor on financing matters.