02 September 2007

Dubai Aerospace Enterprises bid for Auckland International Airport Limited hits turbulence

On 31 August 2007 Bloomberg reported that a $5.6 billion bid announced on 23 July 2007 for Auckland International Airport Limited (AIAL) by Dubai Aerospace Enterprise Limited (DAE) had run into further difficulties. AIAL released a media statement on the latest developments. The NZ Herald reported in depth on 1 September 2007 and the Herald on Sunday of 2 September 2007 carried commentary written by Fran O'Sullivan.

The day the proposed deal was announced the Leader of the New Zealand First Party, Rt Hon Winston Peters (who is also the Minister of Foreign Affairs) made a media release reacting to the proposal. On 8 August 2007 the NZ Herald reported on comments made by the Trade Minister, Phil Goff.

The 22 July 2007 Merger Implementation Agreement between DAE and AIAL has some interesting provisions relating to Tourism Growth and air services, in particular by Emirates, in an attached Co-operation Agreement (see section 4).

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