Deal that just won’t be done – Canadian fund walks from Auckland as government slams door shut

Premium Analysis

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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