Auckland Council has appointed UBS New Zealand Restricted as monetary advisor, on the preliminary stage of the sell-down of airport shares.
Flagstaff Companions has been performing as impartial monetary adviser to Auckland Council on the method, and now implementation, of the council’s partial sale of its Auckland Worldwide Airport Restricted (AIAL) shares.
On 29 June 2023, Auckland Council formally adopted the Annual Finances 2023/2024, which includes the sell-down of round 7 per cent of Auckland Worldwide Airport Restricted (AIAL) shares on situation, with the proceeds to be utilized to debt retirement.
“Auckland Council’s Governing Physique made the choice to amend the council’s Lengthy-term Plan to allow a partial sell-down of the council’s 18.09 per cent shareholding in AIAL. We are actually turning our consideration to this course of,” says Peter Gudsell, Auckland Council Group Chief Monetary Officer.
The council is contemplating a spread of sale constructions and timing alternate options as a part of the sell-down course of and no closing resolution on these alternate options has been made.