KUALA LUMPUR: The Gateway Development Alliance Sdn Bhd (GDA), a Khazanah Nasional-led consortium, has revised the terms of its takeover of Malaysia Airports Holdings Bhd
(MAHB) by lowering its acceptance condition to at least 85% of the airport operator's total issued shares.
This could mean the consortium, which has secured 86.51% of the total issued shares in MAHB, has succeeded in its bid to privatise the company.
In a statement, AmInvestment Bank, on behalf of the offerers, said the closing date for the acceptance of the offer has been extended from Jan 24, 2025, to Feb 4, 2025.
This serves as a third extension for the offer as the consortium had previously failed to achieve the initial 90% acceptance condition.
All other details of the offer, including the offer price of RM11 per MHAB share, remain unchanged.
Following the completion of the takeover, Khazanah Nasional will be the single largest shareholder with a 40% stake in the consortium while the EPF will own 30%.
Meanwhile, a joint venture between Global Infrastructure Partners and Abu Dhabi Investment Authority will hold the remaining 30% stake in MAHB.
Shares in MAHB were halted for trading from 9am to 10am. As at 11.15am, the stock was up four sen or 0.37% to RM10.94 a share after 378,500 shares changed hands.
