MAHB takeover acceptance lowered to 85%, deadline pushed to Feb 4

THE deal to take private Malaysia Airports Holdings Bhd (MAHB) is as good as done when the parties involved have lowered their acceptance level to at least 85%, at the same offer price of RM11 per share, with a new deadline of Feb 4.

As at Jan 17, the consortium led by Khazanah Nasional Bhd has garnered 86.51% stake, including MAHB shares already transferred but pending acceptance documents.

This would dash the hopes of shareholders who could have been speculating that the offerors would raise the price to hit the acceptance level, initially put at 90%.

In an exchange filing today, Gateway Development Alliance Sdn Bhd (GDA) and the other parties acting in concert to take MAHB private informed MAHB shareholders of the third extension, with a lower acceptance threshold.

The takeover bid was put forward by GDA, formed by Khazanah, Employees Provident Fund (EPF) and GIP Aurea Pte Ltd. – TMR