Credit Suisse to advise Auckland council

Auckland City's finance director, David Rankin, says after considering 11 proposals the evaluation team was unanimous in its decision to appoint CSFB.

"It was considered they had the international reputation and credibility to handle a study setting out the various sales options."

The council decided last December to review its options for selling its stake and expects to make a final decision in June when the results of the submissions on its 'Focus on the Future' planning document will be available.

If it decides to go ahead with the divestment the council says it will seek further proposals from parties wishing to handle the sales process.

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