KUALA LUMPUR: Malaysia Airports Holdings Bhd yesterday said joint offerors of the RM10.79 billion deal to privatise the company, has fulfilled one of the four pre-conditions for the deal.
In a filing with Bursa Securities, the airport operator said the General Authority for Competition of Saudi Arabia (GAC) issued a certificate confirming that the privatisation deal does not require notification to the GAC.
The remaining three pre-conditions are required from Malaysian Aviation Commission, Turkish Competition Authority and Egyptian Competition Authority.
MAHB said however the announcement does not amount to a firm intention to make the offer by the joint offerors, and that there can be no certainty that the offer will be made even if the remaining pre-conditions are satisfied.
On May 15, a four-member consortium consisting of Khazanah Nasional Bhd, the Employees Provident Fund, New York-based Global Infrastructure Partners (GIP) and Abu Dhabi Investment Authority (ADIA) announced a takeover offer to acquire remaining 1.12 billion shares in MAHB not already owned by them at RM11 a share in cash. Upon completion of the offer, Khazanah's stake in MAHB will increase to 40 per cent from 33.2 per cent, and EPF from 7.9 per cent to 30 per cent while the remaining 30 per cent will be held by GIP Aurea Pte Ltd.
MAHB's share price opened at RM9.92 today, up two sen from yesterday's close.