The Belgian federal and Flemish governments are considering a joint acquisition of the Canadian pension fund OTPP’s 30% stake in Brussels Airport, potentially gaining majority control. The move, estimated at €2.6 billion, comes after Australian firm Macquarie backed out over price concerns.
Using their respective investment arms, Federal Holding and Investment Company (SFPIM) and Flanders Holding Company (PMV), the governments could each contribute €1.3 billion. The federal government already owns 25% plus one share, with options to increase to nearly 40%. Flanders’ stake could rise to around 16% with the purchase.
The plan has political backing from Flemish nationalists but faces financial hurdles—PMV’s share alone would absorb 71% of its assets. Liberal party MR opposes the deal, citing the airport’s strong current performance and lack of public funds.
Brussels Airport is a key economic driver, contributing €8.8 billion to GDP and supporting 65,000 jobs. The Solace consortium, already holding 36%, could also emerge as a buyer, but quick financing remains a challenge.
