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Bid for 40% stake in Auckland International Airport by Canada Pension Plan Investment Board backed by shareholders

Airline Industry Information, March 14, 2008

AIRLINE INDUSTRY INFORMATION-(C)1997-2008 M2 COMMUNICATIONS LTD

Shareholders of Auckland International Airport today (14 March) approved a bid by the Canada Pension Plan Investment Board for a 40% investment in the New Zealand airport.

The bid, which was backed by over half of the 80% of shareholders who voted, may, however, still be blocked by the government of New Zealand.

The chairman of Auckland Airport, Tony Frankham, confirmed that final approval was required from the country's Overseas Investment Office (OIO) by 11 April 2008 for the bid to become unconditional. If the OIO did not approve the offer by that date, then it would lapse, said the news agency AFP.

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