Malaysia Airports To Be Taken Private By Consortium Led By Khazanah EPF

The companies said the acquisition would offer 11 ringgit per share, implying an equity value of 18.4 billion ringgit and representing a 15.2 per cent premium to the prevailing three-month volume-weighted average price of 9.55 ringgit per share.

The consortium said it planned to position MAHB for long-term sustainable growth by focusing on maintaining and upgrading the airport infrastructure, enhancing passenger service levels, and improving airline connectivity.

On Wednesday, a consortium led by Malaysia sovereign wealth fund Khanzanah National and pension fund provider Employees Provident Fund declared a conditioned offer to acquire all remaining shares in Malaysia Airports Holdings Berhad that it did not already own. The consortium shareholders also companies a subsidiary of the Abu Dhabi Investment Authority and funds managed by Global Infrastructure Partners, it said in a joint statement. The acquisition would have an offer price of 11 ringgit per share, implying an equity value of 18.4 billion ringgit and representing a 15.2 per cent premium to the prevailing three-month volume-weighted average price of 9.35 ringgit per share, the companies said. The consortium planned to position MAHB for long-term sustainable growth, focusing on maintaining and upgrading airport infrastructure, enhancing and promoting passenger service levels, and improving airline connectivity. "The Consortium believes that these objectives will be best achieved by MAHB as a private entity taking a long-term approach to decision making and capital investment and benefiting from international technical expertise," it said. Incorporated in 1992, MAHB manages 39 airports across Malaysia and one international airport in Turkey, as per the website.

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