Infratil Sells 3.87% Auckland International Airport Stake
November 09 2009 - 3:41PM
Dow Jones News
New Zealand utilities investor Infratil Ltd. (IFT.NZ) said
Tuesday it has sold its 3.87% stake in Auckland International
Airport Ltd. (AIA.NZ).
The 47.4 million shares were sold via an institutional placement
at NZ$1.84 per share and raised NZ$87.25 million, the company said
in a statement.
Chief Executive Marko Bogoievski said the sale was consistent
with recent capital management initiatives and will provide
additional flexibility to fund current and future
opportunities.
Infratil, in consortium with the New Zealand Superannuation
Fund, is the exclusive bidder for a stake in Royal Dutch Shell
PLC's (RDSA, RDSB, RDSB.LN) refining and retail assets in New
Zealand.
Infratil said that since March 31, it has divested over NZ$215
million of non-core assets and raised over NZ$98 million of new
capital.
The sale will result in a NZ$6 million gain in the fiscal year
ending March, 31, 2010, Bogoievski said.
Auckland Airport shares closed Monday at NZ$1.93.
-By Simon Louisson, Dow Jones Newswires; 64-4-471-5990;
simon.louisson@dowjones.com
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