11 Mar 2008
Infratil has today resolved to vote in favour of the Canadian Pension Plan Investment Board partial offer for Auckland Airport and accept the offer for its shares.
This decision follows CPPIB's significant concession to limit its voting control to 24.9% on all matters and not to remove this restriction without the prior approval of Auckland Airport shareholders.
Other factors considered, some of which have occurred since the Auckland Airport board updated its views, include the Government's announcements with regard to stapled securities, possible changes to airport regulation and the amendment to the Overseas Investment Act regulations and the further weakening of world equity markets.
Infratil continues to believe that Auckland Airport is a first class infrastructure asset, with strong long term growth prospects, which will benefit from shareholding stability.
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