Canadians near target for airport bid

The Canadian bid for 40 per cent ownership of Auckland Airport is looking ever more likely before the bid's close tomorrow.

The Canada Pension Plan Investment Board said today it has 38.27 per cent of acceptances, just 1.3 per cent off its 39.53 per cent target.

It already holds nearly 0.8 per cent of its own.

A spokesman said the CPP had been flooded today with last minute acceptances and it was "pretty confident" of success.

This means the Canadians are unlikely to need the Auckland City Council's stake of 12.7 per cent. The council is meeting tonight to decide whether to sell its shares and whether to vote for the proposal.

- NZPA