A TAKEOVER offer for Malaysia Airports Holdings by a consortium comprising the country’s sovereign wealth fund and BlackRock has been extended for a third time this month to Feb 4, a stock exchange filing on Monday (Jan 20) showed.
The consortium, including Malaysia’s sovereign wealth fund Khazanah and BlackRock’s Global Infrastructure Partners, has now secured an additional 45.63 per cent stake as at Jan 17, the filing showed, bringing their total control to 86.51 per cent.
The offerors also lowered the acceptance condition to at least 85 per cent, and continued to offer RM11 per share to buy all remaining shares, giving the airports operator an equity value of RM18.4 billion (S$5.6 billion).
If the acceptance condition of the offer is met, the offerors do not intend to maintain the listing of the offeree on the stock exchange, the filing showed.
The consortium had earlier extended the takeover offer to Jan 24 from the prior deadline of Jan 17.
Shares of the airports operator have risen around 5 per cent since the offer was first announced in mid-May last year, but have remained below the RM11 apiece offer price. The stock was trading 0.6 per cent higher at RM10.96 as at 0436 GMT. REUTERS
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