Canada Pension seeks stake in NZ's Auckland Intl Apt
WELLINGTON (Reuters) - Canada's Pension Plan Investment Board said on Monday it would seek a minority stake of up to 49 percent in New Zealand's Auckland International Airport (AIA.NZ: Quote, Profile, Research, Stock Buzz).
Last Friday, rival airport bidder Dubai Aerospace Enterprise said it was in dispute with Auckland International Airport Ltd because the airport company had not done enough to ensure their agreed NZ$2.6 billion ($1.8 billion) deal succeeds.
State-backed Dubai said it was initiating talks which could see the offer terminated within five working days.
Shares in Auckland Airport closed on Friday down 0.7 percent or two cents at NZ$3.03, having fallen as low as NZ$2.85 after the Dubai announcement.
(NZ$1=$1.43)
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