TNB seeks control over Integrax

A ship berths at Lumut Port’s Lekir Bulk Terminal, which saw a cargo throughput of 5.5 million tonnes as at Sept 30 last year.

PETALING JAYA: Tenaga Nasional Bhd (TNB) is offering RM2.75 a share to buy out other shareholders in Integrax in a RM644.2mil deal, as the utility firm seeks to gain full control of the operator of Lumut Port in Perak.

The conditional takeover offer values Integrax at 19% premium to its last traded price of RM2.31 yesterday. TNB said it planned to de-list Integrax from Bursa Malaysia if it receives sufficient acceptance.