The Overseas Investment Office says its recommendation on the Canadian application to buy 40 per cent of Auckland International Airport will be with ministers "in plenty of time" for them to make a decision before the April 11 deadline.
A spokeswoman said the application from the Canada PensionPlan Investment Board, which ran to more than 1000 pages, was now being processed.
The OIO will make a recommendation but the final decision will be up to Land Information Minister David Parker and Associate Finance Minister Clayton Cosgrove, who will apply stricter criteria following an amendment to foreign investment laws.
The Government pushed through an Order in Council on March 3 that amended the foreign investment regulations.
Lobbying over the move has intensified, with the Business Roundtable and Wellington Regional Chamber of Commerce complaining to the Clerk of the House about the process.
Chamber chief executive Charles Finny said yesterday that the regulations review select committee had referred the complaint to Finance Minister Michael Cullen for comment and a response was expected within the next three weeks.
Yesterday the CPP released figures showing the percentage of acceptances up nearly a point to 63.49 per cent after late forms had been counted.
Earlier this week international credit rating agency Standard and Poor's placed Auckland Airport's A/A-1 rating on credit watch with negative implications following the CPP partial takeover, reflecting uncertainty over the final outcome of the offer.
