Australia’s Macquarie Airports has reshuffled its European portfolio after agreeing to sell its 35.5 per cent stake in Bristol Airport and lifting its holding in Copenhagen Airports to 30.8 per cent.

The Bristol stake is being sold for £128m ($211m) to Ontario Teachers’ Pension Plan, the Canadian pension scheme that is also selling Macquarie Airports an additional 3.9 per cent of the Danish airports group.