Manukau Council still in control of airport share
Thursday, 22 September 2005, 9:54 am
Press Release: Manukau City Council
Media Release
22 September 2005
Manukau City
Council still in control of airport share
Manukau City
Council has transferred Council’s shareholding in Auckland
International Airport Limited to Manukau City Investments
Limited.
Manukau City Investments Limited is the
council-controlled organisation established by Council after
public consultation to hold the Airport shares and to assist
Council to lower its funding costs for the long-term benefit
of Manukau ratepayers.
Council, as the 100% owner of
Manukau City Investments Limited’s voting securities, will
retain control of the Airport shares. The Mayor, Sir Barry
Curtis, says that “Council intends remaining, directly or
indirectly, a long-term holder of the Airport
shares”.
ENDS
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