Auckland Council has appointed UBS New Zealand Limited as financial advisor, on the initial stage of the sell-down of airport shares.
Flagstaff Partners has been acting as independent financial adviser to Auckland Council on the process, and now implementation, of the council’s partial sale of its Auckland International Airport Limited (AIAL) shares.
On 29 June 2023, Auckland Council formally adopted the Annual Budget 2023/2024, which incorporates the sell-down of around 7 per cent of Auckland International Airport Limited (AIAL) shares on issue, with the proceeds to be applied to debt retirement.
“Auckland Council’s Governing Body made the decision to amend the council’s Long-term Plan to enable a partial sell-down of the council’s 18.09 per cent shareholding in AIAL. We are now turning our attention to this process,” says Peter Gudsell, Auckland Council Group Chief Financial Officer.
The council is considering a range of sale structures and timing alternatives as part of the sell-down process and no final decision on those alternatives has been made.
