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Malaysia Airports buyout deal extended to Feb. 4

A takeover offer for Malaysia Airports Holdings by a consortium consisting of the country's sovereign wealth fund and BlackRock has actually been extended for a third time this month to Feb. 4, a stock market filing on Monday revealed.

The consortium, including Malaysia's sovereign wealth fund Khazanah and BlackRock's International Infrastructure Partners, has now secured an extra 45.63% stake since Jan. 17, the filing showed, bringing their overall control to 86.51%.

The offerors likewise reduced the acceptance condition to at least 85%, and continued to provide 11 ringgit per share to purchase all remaining shares, offering the airports operator an equity worth of 18.4 billion ringgit ($ 4.09 billion).

If the acceptance condition of the offer is satisfied, the offerors do not plan to preserve the listing of the offeree on the stock market, the filing revealed.

The consortium had earlier extended the takeover offer to Jan. 24 from the prior due date of Jan. 17.

Shares of the airports operator have increased around 5% considering that the offer was initially announced in mid-May in 2015, but have remained listed below the 11 ringgit apiece provide cost. The stock was trading 0.6% higher at 10.96 ringgit as of 0436 GMT.

(source: Reuters)