KUALA LUMPUR: Khazanah Nasional Bhd and the Employees Provident Fund-led (EPF) consortium Gateway Development Alliance Sdn Bhd (GDA) appears to have succeeded in its bid to privatise Malaysia Airports Holdings Bhd (MAHB).
This follows the revision of the acceptance threshold of GDA's takeover offer to 85 per cent from 90 per cent originally, according to a Bursa Malaysia filing today.
The statement said the consortium had held a total of 86.51 per cent of MAHB shares as of Jan 17.
Besides the revised acceptance threshold, the statement also came with another extension of time for MAHB shareholders to accept the takeover offer.
The closing time and date for the acceptance of the offer have been extended from Jan 24 to Feb 4.
This marks the third extension after the consortium had on Jan 15 extended the initial deadline from Jan 17 to Jan 24.
"Save for the revision and the extended closing date, all other details, terms and conditions of the offer as set out in the offer document, including the offer price (i.e. RM11 per MAHB share) remain unchanged," the statement said.
Prior to the takeover bid, Khazanah owned a 33.2 per cent stake in MAHB, while the EPF held a 7.9 per cent stake.
Abu Dhabi Investment Authority, on the other hand, had a 0.13 per cent stake.
Upon completion of the takeover, Khazanah will be the single largest shareholder with a 40 per cent stake in the consortium, while the EPF will hold 30 per cent.