April 9, 2002

Auckland City has appointed Credit Suisse First Boston (CSFB) to prepare a study outlining options for the sale of the council's 25.7 per cent shareholding in Auckland International Airport Ltd.

Auckland City's Director of Finance David Rankin said that after a robust consideration of the 11 proposals received, the evaluation team was unanimous in its decision to appoint CSFB.

"It was considered they had the international reputation and credibility to handle a study setting out the various sales options."

The decision in principle to progress the sale of the shares was made by the council on December 19 last year.

The council will make the final decision on whether to sell its shareholding in June when the results of the submissions on the council's Focus on the Future planning document will be available.

If the council decides to sell the shareholding a further "Request for Proposals" document will be issued seeking proposals from parties wishing to handle implementation of the agreed sales process.

ENDS

© Scoop Media