Ownership
Manchester Airports Group is wholly owned by the ten local authorities of Greater Manchester, with a majority share (55%) owned by Manchester City Council; the other nine local authorities own 5% each. In 2012, it was decided that rules on shareholding would be changed to allow external, private investors to purchase stakes in order to provide extra capital for future investment and takeovers of airports. Manchester City Council would retain a controlling stake over the organisation.
- Shareholders
- Manchester City Council - 55% (majority stake)
- Metropolitan Borough of Bolton - 5%
- Metropolitan Borough of Bury - 5%
- Metropolitan Borough of Oldham - 5%
- Metropolitan Borough of Rochdale - 5%
- Salford City Council - 5%
- Metropolitan Borough of Stockport - 5%
- Metropolitan Borough of Tameside - 5%
- Metropolitan Borough of Trafford - 5%
- Metropolitan Borough of Wigan - 5%
Read more about this topic: Manchester Airports Group
Famous quotes containing the word ownership:
“They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)