The Abu Dhabi Investment Authority “ADIA” and the American company “Global Infrastructure Partners” will buy a 30% stake in “Malaysia Airports Holding” Company.
Malaysia Airports Holdings is close to becoming a private company, as two of its largest shareholders are cooperating with Global Infrastructure Partners, a company specializing in concluding acquisition deals. And Abu Dhabi Investment Authority (ADIA)To submit a takeover bid for the airport operator, as I mentioned Bloomberg Agency.
The Malaysian sovereign wealth fund (Khazanah National), “Employees Provident Fund”, “Global Infrastructure Partners” and “ADIA” offered to pay 11 Malaysian ringgit per share in exchange for acquiring a stake of approximately 67% of the company, according to a disclosure to the Malaysian Stock Exchange.
Also Read: What is the 10-year Blue Residency Visa? Who can apply?
The share price offered in the deal is 15% higher than the “weighted average price of the share within three months” (a measure used to evaluate the share price), and the deal values “Malaysia Airports” at approximately 18.4 billion ringgit ($3.9 billion) according to this price.
Khadim Al Rumaithi, Executive Director of the Infrastructure Investments Department at the ADIA Fund, said through a joint statement by the investment alliance: “Malaysia Airports’ network of airports serves some of the fastest growing aviation markets in the world, which benefit from regional economic growth and increased capacity. Bearing the costs of air travel, with shifts in consumer spending.”
This announcement confirms a report published earlier by Bloomberg News stating that the Khazanah National and Employees Provident Funds are studying the privatization of Malaysia Airports Holdings.
The statement stated that Khazanah and the Employees Provident Fund, the two largest pension funds in the country, will increase their stakes in the airport operating company to 40% and 30%, respectively, after the planned acquisition. He added that “ADIA” and “Global Infrastructure Partners”, based in New York, will buy the remaining 30%.
Malaysia Airports Holdings shares fell by about 2.9% after trading resumed on Thursday after it was halted on Wednesday. The stock fell 2.5% to 10.14 ringgit at 10:11 am local time.
