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NZ Set To Lose Yet Another Plum

23 July 2007

NZ Set To Lose Yet Another Plum

New Zealand First leader Winston Peters is urging shareholders in Auckland International Airport Limited to do all they can to prevent the proposed sell off of over half of the company's shares to Dubai Aerospace Enterprise.

Mr Peters has described the proposed transaction as a totally unnecessary sell out and sell off of yet another New Zealand plum to a foreign owned company.

"Auckland International Airport Limited has been a very successful company after having been sold to New Zealand shareholders and it has performed very well for them under New Zealand ownership.

"In the middle of New Zealand's current currency crisis, another valuable asset is at risk of being hocked off, with benefits being taken from New Zealanders and given to overseas investors instead.

"This proposal begs the question in whose interests the Auckland Airport directors are acting – their own, or New Zealanders?

"It is hard to see the wisdom in Dubai Aerospace's CEO's reported statement that the transaction is 'a significant development with exciting potential for both parties'. The potential for New Zealanders of consigning a highly successful and vitally strategic asset to foreign ownership is very difficult to see," concluded Mr Peters.

ENDS

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