Mergers & Acquisitions

Acquisition of 66% of Wellington International Airport

Morrison & Co acted for a consortium lead by Infratil in the successful acquisition of a 66% stake in Wellington International Airport. Key aspects of Morrison & Co’s role in the process were:

• selection and briefing of all specialist advisers;
• management of due diligence process and consortium reporting;
• business case development;
• identification of value creation opportunities;
• financial modelling and acquisition valuation; and
• negotiation of debt funding.

Following acquisition, Morrison & Co was responsible for the transition process from local government to private control. Tasks included:

• overseeing the development of a new NZD120 million passenger terminal and associated retail and commercial areas;
• implementing the consortium’s full business plan including airline growth initiatives;

Morrison & Co provides strategic and commercial guidance to the airport primarily through representation on the board and through specific development projects as required.