Decision details
Manchester Airport Group Strategic Review
Decision Maker: Executive
Decision status: Recommendations approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To agree the Manchester Airport Group
Strategic Review following the Executive's decision in principal on
12 March 2012
Decision:
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(Note: this report included information ‘Not for Publication’ contained within its appendix by virtue of category 3 ‘information relating to the financial or business affairs of any particular person (including the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))
Alternative options considered:
None
Interests and Nature of Interests Declared:
None
Wards Affected: (All Wards);
Equality and/or Environmental Impact Assessment: N/A
Decision Reference: ED1435
Forward Plan Reference: LDR10
Other reasons / organisations consulted
CRMG Consulted on 6 March 2012
Contact: Barry Khan, Corporate and Support Services Email: barry.khan@stockport.gov.uk Tel: 0161-474-3202.
Report author: Barry Khan
Publication date: 07/09/2012
Date of decision: 07/09/2012
Decided at meeting: 07/09/2012 - Executive
Effective from: 14/09/2012
Accompanying Documents: