Canadian bid for Auckland airport collapses
By Peter Smith in Sydney
Published: April 11 2008 03:51 | Last updated: April 11 2008 03:51
The Canada Pension Plan Investment Board’s attempt to buy a large stake in Auckland International Airport collapsed on Friday after two New Zealand government ministers blocked the deal on grounds that it did not meet criteria to maintain domestic control of key assets.
The intervention, which came after the country’s Overseas Investment Office recommended the sale be approved, could serve to undermine international investor interest in New Zealand. It comes only days after New Zealand became the first developed nation to sign a comprehensive trade agreement with China.
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