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flag Auckland Council sold its airport stake for $1.3B to a local fund, aiming to generate annual returns of $40M.

flag The Auckland Council has sold its 9.7% stake in Auckland International Airport for about $1.3 billion to the Auckland Future Fund, a long-term investment vehicle aimed at supporting the Council's services. flag The sale is expected to generate annual returns of around $40 million starting in 2025/2026, reducing reliance on rate hikes. flag The Future Fund Trustee invited bids from investment brokers to sell the shares to investment funds.

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