mmm they probably name it "Emirates Airport New Zealand"
Nevertheless, guess no one would dare to touch it now :)
With the staunch support from the stack holder and common shareholders alike~
we are going to grow our value along with this asset :D
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mmm they probably name it "Emirates Airport New Zealand"
Nevertheless, guess no one would dare to touch it now :)
With the staunch support from the stack holder and common shareholders alike~
we are going to grow our value along with this asset :D
Looks like DAE want out of the deal Shares dropped at 292.
AIA
31/08/2007
MERGER
REL: 0857 HRS Auckland International Airport Limited
MERGER: AIA: Notice from DAE under Merger Implementation Agreement
Auckland International Airport Limited (Auckland Airport) advises that last
night it received a notice from Dubai Aerospace Enterprise (DAE) Limited
(DAE) under the Merger Implementation Agreement (MIA) dated 22 July 2007
between the parties.
The notice claims that the recent legal proceedings filed by Air New Zealand
seeking judicial review of Auckland Airport's recent aeronautical pricing
process constitute a "Prescribed Occurrence" under the MIA.
In accordance with clause 2.3(a) of the MIA, the good faith consultation
period of five business days required under that clause will now commence.
If the parties are unable to reach agreement by the end of the consultation
period, either party may terminate the MIA.
Auckland Airport disputes the existence of a "Prescribed Occurrence" and does
not consider that DAE has grounds to issue such a notice.
DAE has also claimed that AIAL is in material breach of its obligations under
clause 9.1(a) of the MIA by not using its best endeavours to ensure a
successful outcome to the proposal. AIAL also disputes this claim.
Auckland Airport will keep the market fully informed as soon as further
details are available.
Pretty outrageous response from the Dubaians if that is indeed what they claim. Anyone can seek judicial review of anything -- it is completely outside Auckland Airport's control!!
Perhaps DAE realise this is a dead duck and want to move on. It certainly sounds like they won't sweeten the deal. They are sending a message thats for sure.
THE ARAB deal was always a dickie one they had other ideas beside the air port and have now been caught out, there are 8 others in with mention this could flush them out and remember AIA is the best piece of real estate in NEW ZEALAND..
...enter stage right.
Here come the Canadyans. :D. Mounties to the rescue, driving out the evil towel-heads ;)
http://tvnz.co.nz/view/page/411749/1332608
Question is; do we like these Johnny Foreigners any better than the last ones?
maybe. They bought Yellow Pages. You see that they've just done? directory prices are jumping between 50-100% across the table.
LOTS of talk with ARABS on the left and now CANADIANS on the right with them telling everybody how big they are the only thing not happening is talk about Hard Cold Cash..
How much are those mountaineer moose lovers paying for AIA?
I don't think any price has been announced yet.
See http://afp.google.com/article/ALeqM5...w8oRNCF0SRZutw