All conditions under the CLOO are executed with over 99% approval rating at the recent EGM
by ANIS HAZIM / pic TMR FILE
GAMUDA Bhd’s four Klang Valley highway concession companies have executed all the conditions for the shares sales and purchase agreement (SSPA) with Amanat Lebuhraya Rakyat Bhd (ALR).
Gamuda said the SSPA was successfully executed and met all conditions under the conditional letter of offer (CLOO) with over 99% approval rating at the recent EGM.
“On behalf of the Gamuda’s board, Hong Leong Investment Bank wishes to announce that all the conditions as set out in the respective CLOO has been fulfilled on Aug 5,” Gamuda said in a filing to Bursa Malaysia last Friday.
Each of the concession holding companies, namely Kesas Sdn Bhd, Sistem Penyuraian Trafik KL Barat Sdn Bhd, Lingkaran Trans Kota Sdn Bhd and Syarikat Mengurus Air Banjir & Terowong Sdn Bhd had entered into the respective finalised SSPAs with ALR for the disposals.
Previously, it was reported that the four highways will be disposed to ALR for an aggregate RM4.48 billion, with Gamuda’s portion amounting to RM2.35 billion.