Sydney Airport has agreed to a $23 billion dollar takeover bid from an infrastructure investor group

The company says it recommended the buyout offer from Sydney Aviation Alliance, which is made up of Australian investors and US-based Global Infrastructure Partners.

In a statement, Sydney Airport Limited revealed it had entered into an arrangement with an international consortium, which would acquire 100 per cent of the publicly-listed company.

The consortium, named Sydney Aviation Alliance, is comprised of several Australian and international investment and infrastructure funds.

The Sydney Airport board unanimously recommended that shareholders vote in favour of accepting the offer at meetings likely to be held early next year.

Australia’s Competition and Consumer Commission is investigating how the buyout will impact competition.

The commission is due to release its findings next month.

Sydney Airport is the largest, and only listed airport operator in Australia.