UBS’ New Zealand desk had nabbed the mandate to sell Auckland Council’s 7 per cent holding in Auckland International Airport, beating rival banks who have been positioning for the trade for several months.
The council appointed UBS as an advisor on Tuesday, after it approved a sell-down of 7 per cent of its 18 per cent holding to pay down debts in late June. Flagstaff Partners has been advising the seller and would continue to oversee execution.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
