sharetrader
Page 2 of 81 FirstFirst 1234561252 ... LastLast
Results 21 to 40 of 1602
  1. #21
    Guru Dr_Who's Avatar
    Join Date
    Aug 2007
    Posts
    3,613

    Default

    You think I should buy some AIA today at these levels?
    Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt either directly by abolishing large slabs of it, or indirectly by inflating it away.

  2. #22
    Senior Member
    Join Date
    Jun 2005
    Location
    , , .
    Posts
    936

    Default

    Will wait and see what the deal is before making a decision. There's far too many people using pure emotion to guide their investment strategies.

  3. #23
    Veteran novice
    Join Date
    Jun 2007
    Location
    , , .
    Posts
    7,232

    Default

    Still no details, but Mayor Curtis quoted as saying the bid deserves serious consideration, or words to that effect. Does he know something we don't?

    Disc. Long time AIA holder.

  4. #24
    Guru
    Join Date
    Oct 2001
    Location
    chch, , New Zealand.
    Posts
    2,857

    Default

    Has to be a buy imo , for the longterm , with possible short term upside thrown in for free.

    The fact so many are after this asset shows what a long term goldmine it is

  5. #25
    Muppet Placebo's Avatar
    Join Date
    Apr 2004
    Location
    Lower Hutt, , New Zealand.
    Posts
    481

    Default

    Agree with you on that one, Ratty.

    And this:

    Quote Originally Posted by Zaphod View Post
    Will wait and see what the deal is before making a decision. There's far too many people using pure emotion to guide their investment strategies.
    Has to be the best quote I have read on Sharetrader for some time
    Marriage isn't a word. It's a sentence

  6. #26
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    2,624

    Default

    AIA
    06/09/2007
    MERGER

    REL: 0840 HRS Auckland International Airport Limited

    MERGER: AIA: Termination of the Merger Implementation Agreement with DAE

    Auckland International Airport Limited (AIAL) and Dubai Aerospace Enterprise
    (DAE) Ltd (DAE) announced today that AIAL and DAE have completed the
    consultation process required under the Merger Implementation Agreement
    (MIA). AIAL and DAE have determined that, in light of the circumstances,
    they have no alternative but to terminate the MIA on a mutually acceptable
    basis, including that each party bears its own costs.

    In light of recent developments, DAE regrets that, notwithstanding the best
    efforts of the board of AIAL, the transaction could not proceed in the form
    proposed.

    Kjeld Binger, Chief Executive Officer of DAE Airports, said: "DAE regrets
    that the opportunity to do business with AIAL did not eventuate on this
    occasion and wishes John Maasland and his team at AIAL well."

    Each of AIAL and DAE advise that they will be making no further comment in
    relation to these issues.

    ends
    End CA:00153360 For:AIA Type:MERGER Time:2007-09-06:08:40:31

  7. #27
    Senior Member
    Join Date
    May 2005
    Location
    anzac
    Posts
    1,210

    Thumbs up Goodbye Camels

    NOW that the ARABS have left,, All you boys out at the gold mine AIA back to work [hard]for the Real owners the 70% small shareholders that really control the COMPANY..

  8. #28
    Veteran novice
    Join Date
    Jun 2007
    Location
    , , .
    Posts
    7,232

    Thumbs up

    Quote Originally Posted by BRICKS View Post
    NOW that the ARABS have left,, All you boys out at the gold mine AIA back to work [hard]for the Real owners the 70% small shareholders that really control the COMPANY..
    My sentiments exactly, Bricks.
    With all the hoohaa of the last few weeks one would think that this company had only 2 shareholders! - or maybe 3 with Infratil thrown in.
    I know its a different matter to get the other 52,000 odd or whatever is the number, to exercise their power, but here's hoping.

  9. #29
    Junior Member
    Join Date
    Sep 2007
    Location
    Tauranga
    Posts
    16

    Default

    Does someone know something I dont? $0.36 surge this morning at opening.

  10. #30
    Guru Dr_Who's Avatar
    Join Date
    Aug 2007
    Posts
    3,613

    Default

    *DJ Canada Pension Plan To Make Takeover Bid For Auckland Airport

  11. #31
    Senior Member
    Join Date
    Jan 2003
    Location
    london, , United Kingdom.
    Posts
    657

    Default

    Nothing as yet according to AIA. Interesting trading has been going on with IFT also. I wonder if they are related.

    AIA
    19/09/2007
    GENERAL

    REL: 1005 HRS Auckland International Airport Limited

    GENERAL: AIA: Announcement by CPP Investment Board

    Auckland International Airport Limited ("Auckland Airport") is aware that CPP
    Investment Board ("CPPIB") has made an announcement in respect of its
    intentions in relation to Auckland Airport. A copy of the announcement
    follows.

    No proposal has been received by Auckland Airport from CPPIB. Auckland
    Airport will continue to keep shareholders fully informed of developments on
    a regular basis.

    Should a proposal be received from CPPIB, the directors of Auckland Airport
    will consider the proposal and obtain expert advice on its merits before
    being in a position to make a recommendation to shareholders. This could
    take some time.

    ends

    For further information, please contact:

    Lucy Powell
    Head of Communications
    Ph: +64 21 995 710

    CPP Investment Board's Intentions in Relation to Auckland International
    Airport Limited

    AUCKLAND, NZ (September 19, 2007) In response to continued speculation and
    market activity, the CPP Investment Board today confirmed that it intends to
    submit a proposal under which it would acquire a significant minority stake
    in Auckland International Airport Limited (AIAL).

    Following on from the statement made on September 3, the CPP Investment Board
    confirms that it has formulated a framework for an amalgamation that it will
    discuss with AIAL at a meeting scheduled for September 20.

    The framework for amalgamation formulated by the CPP Investment Board would
    provide shareholders with the choice of three options, one of which will be
    an all cash option of $3.70 per share. The other two options, which will
    provide a value of up to $3.90 per share, would involve a combination of cash
    and the issue of new securities that provide enhanced returns
    whilst preserving the investment grade rating of AIAL. Each of these three
    options could be subject to some scaling, depending on shareholder take-up of
    the various options.

    The CPP Investment Board also advises that it has received committed
    financing in respect of its proposal.

    CPP Investment Board

    The CPP Investment Board invests the funds not needed by the Canada Pension
    Plan to pay current benefits on behalf of 16 million Canadian contributors
    and beneficiaries. As at June 30, 2007, the CPP Fund was C$120.5 billion
    (NZ$162.5 billion). In order to build a diversified portfolio of CPP assets,
    the CPP Investment Board is investing in publicly-traded stocks, private
    equities, real estate, inflation-linked bonds, infrastructure and fixed
    income.

    The CPP Investment Board is accountable to the Canadian Parliament and the
    federal and provincial finance ministers.

    Based in Toronto, the CPP Investment Board is governed and managed
    independently of the Canada Pension Plan and at arm's length from
    governments.
    Last edited by Toddy; 19-09-2007 at 10:36 AM.
    Toddy

  12. #32
    Guru Dr_Who's Avatar
    Join Date
    Aug 2007
    Posts
    3,613

    Default

    Hard to see council selling their holdings.

  13. #33
    Senior Member
    Join Date
    Jan 2003
    Location
    london, , United Kingdom.
    Posts
    657

    Default

    Canada Pension Plan proposes three options to buy AIAL shares

    --------------------------------------------------------------------------------


    By NZPA
    Wednesday 19th September 2007

    The Canada Pension Plan Investment Board says it has come up with three options for acquiring a significant minority stake in Auckland International Airport Ltd.

    They include an all cash option of $3.70 per share, the CPP board said today.

    The other two options, which would provide a value of up to $3.90 per share, would involve a combination of cash and the issue of new securities that provided enhanced returns while preserving the investment grade rating of AIAL.

    The CPP Investment Board today said it was confirming that it intended to submit a proposal under which it would acquire a significant minority stake in AIAL.

    Following a statement this month, it confirmed it had formulated a framework for an amalgamation that it would discuss with AIAL at a meeting scheduled for tomorrow, CPPIB said.

    It said it also advised that it had received committed financing in respect of its proposal.

    Each of its three options for buying shares could be subject to some scaling, depending on shareholder take-up of the various options, CPPIB said.

    AIAL shares were up 31c to $3.35 about 10.30am today.
    AIAL today said it had not received a proposal from CPPIB.

    "Should a proposal be received from CPPIB, the directors of Auckland Airport will consider the proposal and obtain expert advice on its merits before being in a position to make a recommendation to shareholders. This could take some time," AIAL said.

    When it announced its intentions early this month, CPPIB made it clear that it did not need control, that council shareholders would not be diluted and the airport company could stay listed.

    It had a point of difference to the then faltering, and now scuppered, bid from Dubai Aerospace Enterprise (DAE), which in July offered to buy between 51% and 60% of AIAL in a complex $2.6 billion offer.

    When CPPIB made its intentions known, DAE was already looking for a way out of its bid, which had aroused widespread concern about overseas control of a key piece of infrastructure.

    A few days after the Canadians first went public DAE and AIAL announced that in light of the circumstances, they had no alternative but to pull their agreed "merger".

    The termination was on a mutually acceptable basis, including that each party bears its own costs.

    DAE's deal had needed the backing of 75% of shareholders and was to have been voted on in November after the local body elections.

    Key shareholders, Manukau City Council with 10.5% and Auckland City Council with 12.75%, had said they would hold their stakes.
    Toddy

  14. #34
    Senior Member
    Join Date
    May 2005
    Location
    anzac
    Posts
    1,210

    Thumbs down Canadians

    IF they had any balls they would be making a stand in the market and pick up 19.9% then they would be the biggest HOLDER..

  15. #35
    Muppet Placebo's Avatar
    Join Date
    Apr 2004
    Location
    Lower Hutt, , New Zealand.
    Posts
    481

    Default

    The interesting thing about this offer will be whether Canadian part-owners are any more politically palatable than Arab part-owners. Will be an interesting commentary on our societal cultural values...

    In saying that it is structured somewhat differently than the DAE offering. They are looking for a much smaller holding than DAE, and wouldn't need the councils to sell. Mums and dads will be the targets.

    This claim of "new securities that provide enhanced returns" is an intriguing one. How do we know the returns will be "enhanced"? this was an empty claim in the DAE offer and one the market was very skeptical of.

    They are also presenting it as an "amalgamation", but to me, an amalgamation suggests two entities being combined in some way, and there is only one entity in play here, AIA. What will it be amalgamating with? I wonder why CPPIB would want to "amalgamate" with AIA, rather than just take a stake through (as Bricks says) a stand in the market.

    Further details please!

    Again, it will be tempting to take the money should the price go past 3:50 and punt on hoovering it back up again once the dust settles and the price goes back down...
    Marriage isn't a word. It's a sentence

  16. #36
    Senior Member
    Join Date
    Jan 2003
    Location
    london, , United Kingdom.
    Posts
    657

    Smile

    This has to be a big positive for the future direction and ownership of a New Zealand asset. Any comments from shareholders.

    Auckland Airport nominations signal board battle
    A battle for board seats at Auckland International Airport is looming after the company announced this morning it has received three director nominations.
    Auckland Airport has received notices of director nominations for Richard Didsbury from Auckland City Council, John Brabazon from Manukau City Council and Lloyd Morrison from Infratil Limited.
    Existing board members include chairman John Massland, Tony Frankham, Mike Smith, Keith Turner and Joan Withers.
    Shareholders will vote at Auckland Airport's annual meeting on 20 November.


    And from IFT.

    INFRATIL DIRECTOR NOMINATION FOR AUCKLAND INTERNATIONAL AIRPORT LIMITED

    Infratil advises it has nominated Lloyd Morrison for election as a director
    of Auckland International Airport at the Company's annual meeting to be held
    on 20 November 2007.

    For further comment:

    Lloyd Morrison
    04 4732399

    David Newman
    021 450991

    FAQ / BACKGROUND INFORMATION

    1. Why does Infratil want board representation?

    Infratil has around $93 million invested in Auckland International Airport
    ("AIA"). Lloyd Morrison has considerable experience with the direction of
    infrastructure companies, especially airports. Infratil is of the view that
    this experience will add value to AIA Board deliberations. Infratil also has
    concerns about the process AIA has undertaken in respect of potential
    ownership changes. It has been distracting for management and has lacked
    transparency.

    Lloyd Morrison's other relevant directorships include Infratil, Wellington
    Airport, Infratil Airports Europe, Infratil Energy Australia and TrustPower.
    Due mainly to this latter role, an exemption to the Electricity Industry
    Reform Act 1998 is being sought from the Commerce Commission.

    2. Could Infratil work with Auckland and Manukau City Councils?

    Infratil has extensive experience working and partnering with local
    government to develop constructive win/win outcomes. Wellington Airport and
    Whenuapai Airport are good examples of constructive partnerships with
    councils. Public transport is of course intrinsically a partnership of local
    government and private operators.

    3. Could there be conflicts of interest between Infratil's existing
    investments in airports and Lloyd Morrison's directorship of AIA or
    consequences for users?

    Wellington Airport and Auckland Airport compete in the sense that both strive
    to be the most efficient and effective airports in Australasia and this will
    continue unabated. However, as regards services or prices the two airports
    operate in different markets.

    Some people have seen Infratil's support for civil use of Whenuapai Airport
    as not being in the best interest of AIA. Infratil is strongly of the view
    that a successful civil operation at Whenuapai will be complementary to AIA
    in respect of both economics and connectivity. It can be noted that Auckland
    City Council has previously endorsed civil use of Whenuapai as being "good
    for Auckland", notwithstanding their holding in AIA. In any case Infratil
    will have only one board representative on AIA and civilian use of Whenuapai
    is a long-term project.

    At present, regrettably, Air New Zealand is engaged in legal actions with
    both Wellington and Auckland Airports over their respective charges and the
    existence of a common director will not make any difference to those
    processes.

    4. What is Infratil's position on another party taking a major
    shareholding in AIA?

    Any proposal, whether from one of the parties now identified as interested in
    a shareholding in AIA or someone new, will be treated on its merits.
    Infratil's own position on foreign ownership of New Zealand assets is clear.
    It is better for New Zealanders to own New Zealand assets unless the foreign
    shareholder is bringing either capital which is otherwise not available or
    expertise/added value.
    Toddy

  17. #37
    Muppet Placebo's Avatar
    Join Date
    Apr 2004
    Location
    Lower Hutt, , New Zealand.
    Posts
    481

    Default

    From Stuff: The All Blacks' loss is NZ's gain -- English and South African fans are big travellers so should augur well for visitors in 2011...

    Millions poured into airport for World Cup

    A $180 million upgrade of Auckland's international airport is to be fast-tracked to coincide with the 2011 Rugby World Cup.

    The much awaited upgrade includes a bigger terminal, more shops, faster arrivals procedures and a new access pier that showcases New Zealand and has stunning views of Manukau Harbour.

    Auckland Airport chief executive Don Huse said the planned expansion had been brought forward by 18 months so it would be completed in in time for the 2011 Rugby World Cup.

    Peak queue times would be greatly reduced, while border protection services would offer a more welcoming experience in a more spacious environment on a newly developed first floor.

    "We want it to be an experience that is outstanding, uniquely Kiwi and welcoming," he said.

    Departing and arriving travellers using the new "Pier B" would have stunning views across Manukau Harbour while passing through areas showcasing iconic New Zealand images, art and design, as well as native flora, fauna, landscape and textures.

    A wider range of food and beverage, foreign exchange and specialty retail outlets as well as areas with a distinctive New Zealand flavour would be available in the new enlarged arrivals lounge, while outside there would be improved terminal forecourt roads, traffic management and car parking facilities.

    Lifts, sloping travelators and escalators would allow passengers and their meeters and greeters to easily move between the ground floor and the new first floor development, Mr Huse said.

    The location of the new extension - to the north of the current terminal - was an integral part of the international terminal's 20-year master plan.

    http://www.stuff.co.nz/4251509a10.html
    Marriage isn't a word. It's a sentence

  18. #38
    Muppet Placebo's Avatar
    Join Date
    Apr 2004
    Location
    Lower Hutt, , New Zealand.
    Posts
    481

    Thumbs up

    ...and here's the bit that I was wondering about... how do they plan to pay for it: Answer, by charging the airlines more (and ultimately the passengers):

    From NZSE notice (press release)

    Stage 3B is expected to cost approximately $180 million primarily spread over
    three years. It covers core terminal development and provides new roading,
    expanded car parking and creates extensive opportunities for much enhanced
    retail and commercial services. A 4-5 star hotel is also planned for the
    international terminal precinct.

    The bulk of this cost, approximately $120 million, is expected to be incurred
    in the FY10 and FY11 years.

    Auckland Airport continues to consult with its airline customers to determine
    an appropriate recovery for the aeronautical costs associated with this
    investment. Auckland Airport considered it crucial that finalising the
    pricing consultation process does not prevent completion of the project prior
    to the Rugby World Cup 2011.
    Marriage isn't a word. It's a sentence

  19. #39
    Senior Member
    Join Date
    May 2005
    Location
    anzac
    Posts
    1,210

    Thumbs up Why Worry..

    Who cares who pays for it its got to be done and talking about it wont help wait till 2011 when millions start to turn up and bugger me the airport WORKS..

    ALSO Wellington & Christchurch should be doing the same THING..

  20. #40
    Junior Member
    Join Date
    Oct 2007
    Location
    Canterbury
    Posts
    2

    Default

    Does anyone know what Infratil is doing with the money that they raised from their rights issue? A possible takeover bid for AIA?

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •