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Peters Urges Airport Shareholders Not To Sell

07 November 2007

Peters Urges Airport Shareholders Not To Sell

New Zealand First leader Winston Peters is urging Auckland International Airport shareholders to reject Canada Pension Plan Investment Board’s new proposal to take a 40% stake in the company.

The Canada Pension Plan Investment Board has announced that it will be seeking to put the proposal directly to Auckland Airport shareholders, following the Board’s rejection of its last proposal.

“Since being sold to New Zealand shareholders, Auckland Airport has performed very well under New Zealand ownership. Its value and success has made it easy to see why Auckland Airport is attracting so many foreign bidders,” said Mr Peters.

“What we need to remember is that New Zealanders have made their attitude towards the sale of the airport very clear – Auckland International Airport is New Zealand's, and must remain so.

“Any sale to a foreign owned company, regardless of the percentage, lessens Kiwi control of our own assets, and results in profits and other benefits from that asset ending in the back pockets of the foreign owners There is no way that can benefit the long term success of one of our most vital strategic assets.

“I urge shareholders to take this into account when considering the proposal. Both the Board and the shareholders have done very well making Auckland Airport a success on their own, and we certainly don’t need help from foreign owned businesses to carry us the rest of the way,” Mr Peters said.


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