31 October 2007

Auckland International Airport Limited shares

Manukau City Council respects the Auckland International Airport board’s decision to cease its discussions relating to the Canadian Pension Plan Investment Board’s (CPPIB) indicative proposal to buy a controlling stake in the airport.

The Dubai Aerospace Enterprise offer and the indication of an offer from CPPIB demonstrate strong interest in the airport and the opportunities available to realise its potential, Manukau Mayor Len Brown says.

“Our council is keen to work with the airport board to explore opportunities to add value to the company. The airport is a highly strategic asset for Manukau, the Auckland region and New Zealand. We will continue to support the board in ensuring the company is in the best possible position to take advantage of opportunities, financial and operational, that will maximise value for its shareholders,” Mr Brown says.

The council has nominated John Brabazon to the airport board, and would continue to seek his appointment at the airport’s Annual General Meeting on 20 November.

“We are also in the midst of considering submissions on our proposed strategy for our airport shareholding. Analysis of the 552 submissions received shows the greater majority of submitters support the council retaining its shareholding, for controlling interests to remain in New Zealand and no single controlling interest, and for the council to nominate a director to the board,” Mr Brown said

The council heard those who wished to speak to their submissions yesterday (Tuesday 30 October) and will make a decision at its meeting on 8 November.

Media release issued by Manukau City Council, Phone: 09 262 5223. If this media release is not relevant to you, or you do not wish to receive future news and releases from us, you can opt-out by replying to this email with “unsubscribe” in the title.

ENDS

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