GDA To Compulsorily Acquire Remaining MAHB Shares At RM11 Apiece

KUALA LUMPUR, Feb 14 (Bernama) --  Gateway Development Alliance Sdn Bhd (GDA) has proposed to compulsorily acquire all of the Malaysia Airports Holdings Bhd (MAHB) shares from dissenting shareholders at RM11 per share.

AmInvestment Bank Bhd, on behalf of the joint offerors (GDA), told Bursa Malaysia today that the exercise is pursuance of the provision of Section 222 of the Capital Markets and Services Act (CMSA).

"Subject to the provisions of the CMSA, GDA shall be registered as the holder of all the remaining MAHB shares not already held by the joint offerors after the expiration of one month from the date of the compulsory acquisition notice.

"Or, if applicable, 14 days after the statement of the names and addresses of all other dissenting holders as shown in the register of members and/or record of depositors of MAHB, are posted to the dissenting holder upon his/her/its request, whichever is later," it said.

AmInvestment Bank added that in accordance with subsection 223(4) of the CMSA, the rights of the dissenting holders under subsection 223(1) of the CMSA to require the joint offerors to acquire their offer shares will no longer apply.

GDA is a consortium comprising Khazanah Nasional Bhd, the Employees Provident Fund (EPF), the Abu Dhabi Investment Authority (ADIA) and BlackRock's Global Infrastructure Partners (GIP).

On Feb 12, 2025, AmInvestment Bank said GDA and its shareholders (collectively the consortium) received valid acceptances totalling 1.646 billion MAHB shares, representing 98.68 per cent of the total issued shares of MAHB as at 5pm.

That would invoke the provisions of Section 222 of the Capital Markets and Services Act 2007 to compulsorily acquire any remaining offer shares from dissenting holders, and necessary steps will also be taken to delist the offeree from the official list, the bank said.

As the consortium does not intend to maintain the listing status, having collectively held more than 90 per cent of MAHB shares pursuant to the offer, Bursa Malaysia Securities will suspend the trading of MAHB’s shares from Feb 20, five market days from Feb 12, it added.

On Feb 13, 2025, MAHB submitted an application to delist from Bursa Malaysia.

-- BERNAMA