Decision details

The Executive Meeting considered an update on the Manchester Airport Group Strategic Review for growth, previously considered by the Executive on 12 March 2012, and has agreed to

·         note the progress in implementing the strategy agreed by the Executive on 12 March 2012;

·         the Manchester Airport Group’s (MAG) recommendation for the selection of IFM as the preferred investor, being the most favourable offer;

·         the appointment of KPMG to act as financial advisor to the ten local authority shareholders in relation to the restructuring of MAG and the implementation of the Strategy;

·         note that a further report will be submitted to the Executive before the Strategy is implemented;

·         the recommendations in the Confidential Appendix A.

(Note: this report included information ‘Not for Publication’ contained within its appendix by virtue of category 3 ‘information relating to the financial or business affairs of any particular person (including the authority)’ of Schedule 12A of the Local Government Act 1972 (as amended))

None

None