Ontario Teachers’ Pension Plan, the CAD117bn (€80.2bn) Canadian institution, has taken full control of Bristol Airport.

Ontario Teachers, which had a 49% stake, has taken Macquarie’s 50% stake, giving the investor full ownership of the UK airport.

Macquarie, which has also invested in Copenhagen Airport, held its stake in Bristol in its European Infrastructure Fund (MEIF).

In July, spokeswoman Deborah Allan told IP Real Estate that Ontario Teachers had right of first offer, and that it intended to exercise the option.

Bristol Airport, in which Sydney Airport holds a 1% stake, is the ninth busiest UK airport, and the fifth busiest outside London.

Ontario Teachers has been a shareholder in the airport since 2002 and increased its 14.5% stake by 35% in 2009. Ontario paid £128m (€162m).

Other Ontario Teachers investments in the UK include interests in train line High Speed 1, Birmingham Airport, Scotia Gas Networks and Acorn Care and Education.