Takeover offer for Auckland International Airport Limited

Manukau City Council has yet to decide its response to the Canadian Pension Plan Investment Board’s (CPPIB) announcement of a partial takeover offer for Auckland International Airport Limited.



Manukau Mayor Len Brown says the council has not yet received the full proposal, having seen only what was publicly released today (Wednesday 7 November).



“While CPPIB has had a number of discussions with the council, a formal takeover offer has not been discussed,” Mr Brown says.



“We have yet to complete the consultation process for the proposed investment strategy for our airport shareholding. Having considered the 552 submissions, the council must now make a decision, based on the public’s feedback, whether to adopt or amend the proposed strategy,” Mr Brown says.



“We will then take time, when we receive the CPPIB offer, to consider the detail in light of whatever we decide tomorrow and decide our course of action accordingly.”