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Postby dai bread » Thu Dec 20, 2007 11:24 pm

Can our Canadian friends provide me with a bit of local knowledge about this outfit?

The Canadian Pension Plan Investment Board is trying to get control of Auckland International Airport by buying 40% of the shares, at a considerable premium to the current market price.

They are quite open about their intention, which is to load the airport company up with debt and pay "enhanced returns to shareholders", in other words, standard Private Equity tactics of borrowing a large sum and paying dividends with it as a "return of capital".

I'm wondering what their reputation is in Canada.
We have no money; we must use our brains. -Ernest Rutherford.
dai bread
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