Consortium led by Khazanah, EPF announces takeover offer for MAHB at RM18.4bil, to be de-listed by 4Q


KUALA LUMPUR: Gateway Development Alliance and its shareholders have today announced a pre-conditional voluntary offer to acquire all the shares in Malaysia Airports Holdings Bhd (MAHB) not already owned by the Consortium, at an offer price of RM11.00 per share.

The Consortium is led by two Malaysian Government Linked Investment Companies - Khazanah Nasional Bhd via its wholly owned subsidiary UEM Group Bhd and the Employees Provident Fund (EPF).

ALSO READ: Khazanah, EPF are weighing taking Malaysia Airports private, sources say

The Consortium’s shareholders also comprise a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and funds managed by Global Infrastructure Partners (GIP), one of the world’s premier infrastructure investors and an experienced airport owner and manager, MAHB said in a Bursa Malaysia filing today.

*The offer price at RM11 per share implies an equity value of RM18.4 billion

*As at May 14, 2024 the Consortium and its parent companies in aggregate own 41.1 per cent of MAHB’s issued share capital

*Upon full completion of the offer, Khazanah will be increasing its ownership in MAHB from 33.2 per cent to 40 per cent and EPF from 7.9 per cent to 30 per cent

*Collectively, Malaysian investors would own 70 per cent of MAHB

*ADIA and GIP will hold the remaining 30 per cent*The Malaysian government will retain special share rights in MAHB and the chairman and CEO will continue to be Malaysian citizens

ALSO READ: Trading in MAHB shares halted pending material announcement

*The offeror does not intend to maintain the listing status upon completion of the offer, estimated to occur in the fourth quarter of this year

*The Consortium confirms that there are no plans for layoffs as a result of the takeover and that existing employment rights will be fully safeguarded

*There will be no changes to the passenger service charge rates published by MAVCOM on March 12, 2024

MAHB was last traded at RM10.40 per share.

Presently, MAHB manages 39 airports throughout Malaysia, including five international airports, 17 domestic airports and 17 STOLports (Short Take-Off and Landing). Additionally, it owns and manages one international airport in Istanbul, Turkiye. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Etiqa survey sheds light on Gen Z's financial struggles
Microsoft’s UK CEO says tech giant has more LinkedIn vacancies than it did before AI boom
Asian shares steady, sterling treads with caution ahead of BoE meeting
Tex Cycle announces launch of biogas power plant
EcoWorld Malaysia posts higher 2Q net profit of RM70.05mil, declares 2c div/share
FBM KLCI extends fall as profit-taking accelerates
Malaysia's trade in May grows 10.3% y-o-y to RM246.1bil, hits 20-month high
Malaysia, China economic collaboration to bolster supply chains, trade in services sector - Tengku Zafrul
Sunway Aviana achieves 95% take-up rate
China leaves benchmark rates steady as PBOC walks tight rope

Others Also Read