KEY POINTS:
Auckland International Airport spent nearly $9.6 million over the past year dealing with takeover proposals but is citing court imposed secrecy for not releasing full details.
Chief financial officer Robert Sinclair said the money had been spent on financial and legal advice, public relations and administrative expenses responding to approaches from Dubai Aerospace Enterprises and the Canada Pension Plan Investment Board.
The figure is net of a payment received from CPP in settlement of disputed costs related to their bid for 40 per cent of the airport company, rejected by the Government in April.
The Canadians had filed court action after paying the airport just $1.34 million of $7.6 million sought, but the matter was settled before a hearing with a confidential deal.
In releasing its results the company did not go further in breaking down the the $9.6 million figure, with Sinclair adding the company had been "reasonably transparent" over the issue.
Spending on other takeover bids in the near future is unlikely with the company effectively off limits.
Chairman Tony Frankham said there were clear opportunities to restructure the company last year. Since then the Government has cracked down on tax efficient stapled securities and declared the airport a strategic asset.
"The combination of those have delivered us into an environment where it is unlikely that an overseas investor attractive to us would come along. Whether that is a longer term issue or not is something I can't answer," Frankham said.
