Cut-off date for finalising highway deals extended

PETALING JAYA: The cut-off date for the takeover of four toll concessionaires has been extended for two months.

MOF Inc, Kesas Holdings, Litrak Holdings, Sprint Holdings and Smart Holdings have mutually agreed to extend the cut-off date to negotiate and finalise the terms of the definitive agreement from Aug 30 to Oct 31, 2019 in relation to the government’s acquisition of highways.

In June, the Ministry of Finance (MoF) offered to acquire four toll concessionaires with an enterprise value of RM6.2 billion.

The four toll highways are the Damansara-Puchong Highway (LDP), Sistem Penyuraian Trafik KL Barat (Sprint), Shah Alam Expressway (Kesas) and the Stormwater Management and Road Tunnel (Smart), with offer prices of RM2.47 billion, RM1.98 billion, RM1.38 billion and RM369 million, respectively.

Gamuda owns 43.6% in Lingkaran Trans Kota Sdn Bhd (Litrak), Kesas (70%), Sprint (51.8%) and Smart (50%).

source https://www.thesundaily.my/business/cut-off-date-for-finalising-highway-deals-extended-BF1315003