Board’s Response to Auckland International Airport
CPP Investment Board’s Response to Auckland International Airport 31 October announcement
AUCKLAND, NZ (October 31, 2007): The Canada Pension Plan Investment Board (CPPIB) is disappointed with the Auckland International Airport Board's decision to cease discussions between the two organisations.
CPPIB believes that the detailed proposal that it presented to the AIAL Board on 20 September 2007 is in the best interests of AIAL stakeholders and, had it been accepted, would have resulted in the substantial recognition of value for all AIAL shareholders.
CPPIB is disappointed
that the AIAL Board did not recommend its proposal or give
the company’s shareholders the opportunity to consider and
vote on the matter after being provided with complete
information about the proposal.
CPPIB is in the process of considering all of its options and will not make further comment at this time.
Attributable to Mark Wiseman, Senior Vice President - Private Investments, CPP Investment Board