CPPIB outlines offer for AIAL

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CANADA/NEW ZEALAND - The Canada Pension Plan Investment Board (CPPIB) has released the latest details of its long-delayed plan to increase its holdings in Auckland International Airport Limited (AIAL).

The current proposal has offered to buy 40% of the business for a consideration of NZ$3.65555 (US$2.77) per share, representing a value of 22.2 times AIAL’s 2007 gross earnings. Mark Wiseman, s...

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