Auckland Council sells airport stake for at least $1.31b

Auckland Future Fund chair Christopher Swasbrook said the shares received multiple bids from global brokers. (Image: Supplied)

Staff reporters

Wed, 04 Dec 2024

Auckland Council has sold all of its shares in Auckland Airport for at least $1.31 billion. Auckland Council’s investment fund, Auckland Future Fund, said the council’s 9.71% stake in Auckland International Airport (AIAL) shares had been sold at a price of at least $8.08 per share. In a statement, Auckland Future Fund said this was above the price after transaction costs of $7.89 per share that Auckland Council had budgeted for in its long-term plan. Auckland Future Fund chair Christopher Swasbrook said the shares rec...

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