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DAE loses its cornerstone, walks away from Auckland

6-Sep-2007

The “wonderful beginning” to

Dubai Aerospace Enterprise’s (DAE) airports business, as hailed by CEO,

Bob Johnson, in Jul-07 has turned into a sour ending, as DAE yesterday walked

away from a deal to acquire up to 60% of Auckland Airport. Both sides were silent

on the reason for the scuttled bid, with a joint release officially stating

that, “regrettably”, the transaction “could not proceed in

the form proposed”. [255 words]

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