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Council to discuss airport share sale


Council to discuss airport share sale

A special council meeting will be held on Thursday 5 December 2002 to discuss the airport share sales process.

The chairperson of the council’s working group, Councillor Douglas Armstrong, says councillors will receive a full briefing on the sales process from council officers and the council’s commercial advisers.

A dual-track sales process is being used to target trade buyers and institutional investors to achieve the best price and thereby maximise any sale proceeds.

The council is intending to use the proceeds to repay debt and provide the funds necessary to improve the city’s infrastructure. The shares will only be sold if a good price can be obtained, says Councillor Armstrong.


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