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Auckland Airport bid takes another twist


Bidding for Auckland Airport took another turn as Canada Pension

Plan Investment Board (CPPIB) reportedly emerged from due diligence with a proposal

to acquire 49% of the airport. Pricing and terms will be announced next week,

but Dubai Aerospace Enterprise’s (DAE) bid for up to 60% has set a benchmark,

valuing Auckland at up to NZD3.80 per share – well above CPPIB’s

initial (rejected) NZD3.10 per share offer.   [258 words]

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