Deal that just won’t be done – Canadian fund walks from Auckland as government slams door shut
The New Zealand Government has, as expected, rejected a bid by the Canadian Pension Plan
Investment Board (CPPIB) to buy a 40% shareholding in Auckland International Airport
Limited (AIAL), on the grounds that the “benefit to New Zealand” criterion was not met. It completes 12 months of mishandling of the Canadian (and other) bids for AIAL, punctuated by Board backflips and the shifting of the foreign investment goal-posts by the New Zealand Government.
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