Ontario Teachers’ Pension Plan is looking to take majority ownership of Bristol Airport in the UK.

The CAD117bn (€80.2bn) Canadian institution, which currently has a 49% stake, will make an offer to Macquarie European Infrastructure Fund (MEIF) for its 50% holding. Macquarie, which has also invested in Copenhagen Airport, invests on behalf of pension funds and institutions.

Spokeswoman Deborah Allan confirmed that Ontario Teachers had right of first offer and that it intended to exercise the option.

“We have knowledge and experience with Bristol, have an excellent airport platform, and of course also have experience doing business in the UK,” she added.

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.

In 2011, the institution added a 30% interest in Copenhagen Airport and a 39% interest in Brussels Airport to its infrastructure portfolio, 56% of which is invested in transportation and logistics.

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.