MAHB to buy stakes in Turkish firms for RM1b

KUALA LUMPUR: Malaysia International airports Holdings Bhd (MAHB) has announced that it will exercise its right of first refusal to acquire a 40 percent stake each in two European companies worth more than RM1 billion dollars.

The two companies are Istanbul Sabiha Gokcen Uluslararasi Havalimani Yatirim Yapim ve Isletme A. S (ISG) and LGM Havalimani Isletmeleri Ticaret ve Turizm A. S.

MAHB said it can acquire ISG from GMR Infrastructure Ltd and GMR Infrastructure Abroad Ltd (GMRO) for RM705. 73 million.

It will also acquire LGM from GMRO and GMR Infrastructure (Global) Ltd for RM302. 454 million.

The particular acquisitions will be made by the airport operator’s indirectly wholly-owned subsidiary, Malaysia Airports MSC Sdn Bhd.

ISG’s core business is managing the operations of Sabiha Airport.

LGM’s procedures include establishing and operating hotels as well as establishing, operating, and leasing out food and beverage facilities and trading at the airport.

MAHB said the proposed acquisitions are part of the group’s plans to improve and diversify its assets and earnings base to improve long-term growth prospects.

“The suggested acquisition will allow MAHB to have majority stakes in ISG and LGM and further strengthen its foothold and influence as an airport operator in Turkey, ” MAHB told Bursa Malaysia yesterday.

It added the acquisition will be borrowed via proceeds from a proposed personal placement and internally generated money.

“The proposed personal placement entails an issuance of recent ordinary shares of RM1 each in MAHB, representing up to 10 per cent of the issued and paid-up share capital of MAHB in order to third-party investor(s) to be identified with an issue price to be determined later, ” the company said.


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KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) has announced that it can exercise its right of first refusal to acquire a 40 per cent risk each in two Turkish companies worth more than RM1 billion.

The two companies are Istanbul Sabiha Gokcen Uluslararasi Havalimani Yatirim Yapim ve Isletme A. S (ISG) and LGM Havalimani Isletmeleri Ticaret ve Turizm A. S.

MAHB said it will acquire ISG from GMR Infrastructure Ltd and GMR Infrastructure Overseas Ltd (GMRO) for RM705. 73 million.

It will also acquire LGM from GMRO and GMR Infrastructure (Global) Ltd for RM302. 454 million.

The acquisitions will be made by the airport operator’s indirectly wholly-owned subsidiary, Malaysia International airports MSC Sdn Bhd.

ISG’s core business is handling the operations of Sabiha Airport.

LGM’s operations consist of establishing and operating hotels in addition to establishing, operating, and leasing out there food and beverage facilities and trading at the airport.

MAHB said the proposed acquisitions are usually part of the group’s plans to enhance and diversify its assets and revenue base to improve long-term growth potential clients.

“The proposed purchase will allow MAHB to have majority stakes in ISG and LGM and further strengthen its foothold and influence as an airport operator in Chicken, ” MAHB told Bursa Malaysia yesterday.

It added the acquisition will be financed via proceeds from a proposed private positioning and internally generated funds.

“The proposed private positioning entails an issuance of new regular shares of RM1 each in MAHB, representing up to 10 percent of the issued and paid-up reveal capital of MAHB to third-party investor(s) to be identified and at a problem price to be determined later, ” the company said.

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