Feb 27, 2008

Auckland Airport Deal

Fran O'Sullivan also writes in the NZ Herald about the Government's move to reduce the appeal of the Canadian pension fund's bid for Auckland airport.

Cullen and Dunne have trod a careful path making it clear they have not consulted with interested parties to avoid any suggestion that opponents to the Mounties bid like Infratil CEO and Auckland airport director Lloyd Morrison have got in their ears.
It remains a "very Wellington deal" nevertheless.

The NZ Herald editorial also looks at the issue of retrospectivity which it notes is never a feature of good law. It reminds us

This, of course, is not the first time that the Government has acted against a potential airport owner. Last year, Trade Negotiations Minister Phil Goff shot down an attractive Dubai Aerospace takeover bid when he said the Government did not want to see key public utilities sold off. The move against stapled stock instruments was just as blatant in its intent, as was the timing.