KUALA LUMPUR: Gateway Development Alliance (GDA) and its shareholders have today announced a pre-conditional voluntary offer to acquire all the shares...
: Gateway Development Alliance and its shareholders have today announced a pre-conditional voluntary offer to acquire all the shares in Malaysia Airports Holdings Bhd not already owned by the Consortium, at an offer price of RM11.00 per share which is an equivalent of RM18.4 billion.
Collectively, Malaysian investors would own 70 per cent of MAHB. ADIA and GIP will hold the remaining 30 per cent. The government of Malaysia will retain special share rights in MAHB and the chairman and CEO will continue to be Malaysian citizens. The offer price represents a 15.2 per cent premium to the prevailing three-month volume-weighted average price of RM9.55 per share and also implies a 49.5 per cent year to date increase based on the closing price of RM7.36 per share on Dec 29, 2023, in comparison to the 10.4 per cent YTD performance of the benchmark index FTSE Bursa Malaysia KLCI up to the date prior to the announcement of the offer.
“As an integral component of the national infrastructure, MAHB plays a vital role as a gateway for trade, tourism and business activities, contributing significantly to economic development and prosperity.” “Given GIP’s substantial expertise in owning and operating airports, together with our partners, we can focus on improving customer service, elevating operational excellence, growing passenger volumes and enhancing employee engagement. We look forward to working with our partners to build a bright future for Malaysia, MAHB and all stakeholders.”
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