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An expenses claim following the unsuccessful Canadian bid for a stake in Auckland International Airport (AIA) has been settled, the parties say.
Last month AIA said it had sought $7.6m for expenses related to the bid, while Canada Pension Plan Investment Board (CPP) had paid $1.34m.
CPP filed a claim against AIA in the High Court, relating to AIA's request for reimbursement of expenses from the partial takeover offer.
It also wanted to resolve through the High Court issues relating to the airport's refusal to release CPP from a confidentiality agreement which prohibited CPP from trading in AIA shares.
Today AIA said it and CPP announced they had settled the claims.
"The terms of settlement are confidential. No further comment will be made," AIA said.
- NZPA
