Government stops Canada Pensions buying Airport

After more then a year of negotiations and months of controversy the government in the form of State Services Minister David Parker and Associate Finance Minister Clayton Cosgrove overruled the foreign investment watchdog and blocked the Canada pension fund's takeover of Auckland International Airport.

The National Party and many commentators have panned the decision, while others are more sanguine.

Blogs and Analysis

Business Spectator - Melbourne,Victoria,Australia

The battle for control of Auckland Airport has kept Kiwi eyebrows in an almost permanent state of elevation these past few months, but the two thuds just ... Video at Interest.co.nz by Bernard Hickey

The 40 percent stake that the Canada Pension Plan Investment Board recently won in its bid to increase shareholdings at Auckland International Airport Ltd. is a unique investment in its $140 billion portfolio, reports the Sunday Star Times.

More at allheadlines.com...

By Darren Rickard(Darren Rickard) State Services Minister David Parker and Associate Finance Minister Clayton Cosgrove have vetoed the sale of Auckland International Airport[AIA] After over a year of negotiations by two prospective parties, The Canadian Pension Plan ...

More at Share Investor NZ...

By Queen Bee(Queen Bee)

There is much speculation that today is the day for the decision on whether the Canadians are allowed to inject $1.8 billion in liquidity into the New Zealand market. We hope that the Government does the right thing for New Zealand and ...

More at Wellington Hive...

No Minister By Gooner(Psycho Milt) The Auckland International Airport was not being sold. It was impossible for a strategic asset of New Zealand to be sold here as Winston Peters and others would have you believe. Accordingly the decision to allow the Canadian Pension ...

Marketwire The Canada Pension Plan Investment Board (CPPIB) today said it was disappointed in the outcome of its Overseas Investment Act application, which has been declined. ...

Anti-dismal By Paul Walker I have blogged on this earlier, but now its official, the government has blocked the sale of 40% of Auckland International Airport (AIAL) to the Canada Pension Plan Investment Board on the grounds that ...

News Items

Financial Post

Radio New Zealand Initial report, National Party reaction ,

Stuff

TV3

The aftermath Canadians give up on Auckland's Airport

TV3 News - Auckland,New Zealand A Canadian pension fund has given up its bid to buy a 40 per cent stake in Auckland International Airport. After being blocked by the government, ...

Bloomberg April 11 -- Canada Pension Plan Investment Board abandoned its year-long effort to buy a stake in Auckland ...

New Zealand shares close lower on rejection of Auckland Airport deal

Forbes - NY,USA 'The decision on Auckland Airport helped to lead the market down, and in general all our leaders have come down,' said ASB Securities broker Stephen Wright. ...

Stuff Market opens down as Auckland airport sheds 27c early

The Press - Christchurch,New Zealand The sharemarket was down early this morning after government ministers vetoed the Canadian Pension Plan's (CPP) bid to buy a stake in Auckland Airport. ...