GIP, ADIA Join Khazanah’s Takeover Bid for Malaysia Airports - Bloomberg
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GIP, ADIA Join Khazanah’s Takeover Bid for Malaysia Airports

  • Takeover offer by consortium values company at $3.9 billion
  • Khazanah, EPF set to own a combined 70% of Malaysia Airports

Kuala Lumpur International Airport.

Photographer: Richard Humphries/Bloomberg
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Malaysia Airports Holdings Bhd. is set to be privatized as its two biggest shareholders team up with buyout firm Global Infrastructure Partners and the Abu Dhabi Investment Authority to make a takeover offer for the airport operator.

Malaysia’s sovereign wealth fund Khazanah Nasional Bhd., Employees Provident Fund, GIP and ADIA offered to pay 11 ringgit per share to acquire 67% of the company, according to a Bursa Malaysia filing on Wednesday. That represents a 15% premium to the company’s prevailing three-month volume-weighted average price — a measure of a stock’s valuation — and values Malaysia Airports at 18.4 billion ringgit ($3.9 billion).

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