- Sydney Airport operates the airport of Sydney, a wide moat business as it's a piece of critical infrastructure and one of the few major international points of entry.
- 2020 was abysmal, and I'm not expecting a lot of improvement in 2021.
- Sydney Airport just received a buyout proposal which I think is fair and reasonable as it values SYD at 50X the pre-pandemic earnings and 26X the pre-pandemic EBITDA.
- I have no position as Sydney Airport is too expensive for me. But the company should consider the buyout offer.
For further details see:
Sydney Airport: Should Consider The All-Cash Buyout Offer, Here's Why