Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Auckland Airport update on CPPIB partial takeover

Auckland Airport update on CPPIB partial takeover offer

As of 3 March 2008, the Canada Pension Plan Investment Board (CPPIB) advised that acceptances have been lodged for 163,009,164 shares, representing 13.34 per cent of the total shares in the company. Of those acceptances, 120,863,860 shares have been lodged in the CPPIB acceptance facility. These shares can be withdrawn by shareholders prior to the close of the offer.

179,362,636 shareholder votes, representing 14.67 per cent of the total shares in the company, have also been received. Of the votes received to date, 34.18 per cent are against CPPIB acquiring a 40 per cent stake and 65.82 per cent are in favour of the offer.

Auckland Airport shareholders are required to make two decisions – whether to sell their shares into the offer, and whether to vote for or against CPPIB becoming a 40 per cent shareholder. CPPIB needs 39.2 per cent acceptances and a majority vote in order to complete the transaction.

The offer closes on 13 March 2008.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO: