PETALING JAYA: The much-anticipated plan to privatise PLUS Expressways Bhd was announced yesterday, with Khazanah Nasional Bhd and the Employees Provident Fund (EPF) offering a cash offer for the assets and liabilities of the highway concessionaire for RM23bil, which works out to RM4.60 per share of the latter.
Using a co-investment vehicle in which Khazanah’s wholly-owned unit, UEM Group, will own 51% and the rest by EPF, the offer is subject to a successful restructuring of the concession agreement on acceptable terms.
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