Dubai bidder confident of Auckland airport success
A report in the Dominion Post in NZ says that Dubai Aerospace Enterprise is confident it can persuade shareholders and the Government to accept its bid for a controlling stake in Auckland International Airport.
DAE’s bid of $3.80 a share for 51 per cent to 60 per cent of the airport was dealt a serious blow on Sunday when Trade Minister Phil Goff said the Government wanted Auckland and Manukau city councils to retain their combined 22.8 per cent stake in the airport.
“We are extremely focused on bringing forward our proposal and we are not contemplating any plan B for the time being,” said DAE Airports chief executive Kjeld Binger.
“We believe strongly in our proposal and we will continue to try to convince every stakeholder that it’s the right proposal.”
He was confident this could be done.
The proposal needs the support of at least 75 per cent of shareholders, after which it will require the approval of Associate Finance Minister Trevor Mallard and Land Information Minister David Parker under the Overseas Investment Act.
Based on the fall in the airport’s share price after Mr Goff’s comments, Goldman Sachs JBWere estimated the proposal now had only a 25 per cent chance of succeeding.
Mr Binger was philosophical about the political opposition.
“It’s fair to say that in a pluralistic society, views are coming out. I think it’s a natural thing for any country to have discussions on these types of assets.
“I think there are different views in the two councils – views we will respect – and, at the end of the day, the councils will make their decision. I have not seen any firm decisions from either of the councils yet.”
DAE had not been in touch with the Government since Sunday but Mr Binger said if the proposal got shareholder approval he had confidence in the Government to make the final decision. “I’m absolutely convinced that the OIA decision will be made on an absolutely fair judgment of our proposal.”
Two other parties – Canada Pension Plan Investment Board and a Macquarie Bank-led consortium – are still believed to be working on competing proposals for the airport.
Report by The Mole
John Alwyn-Jones
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Singapore to forbid entry to undesirable travelers with new no-boarding directive
In Italy, the Meloni government congratulates itself for its tourism achievements