Malaysia Airports Holdings Bhd (MAHB) Monday exercised its right of first refusal to acquire a 40 per cent equity stake in each of two Turkish companies worth over RM1 billion collectively.
Malaysia Airports Holdings Bhd (MAHB) Monday exercised its right of first refusal to acquire a 40 per cent equity stake in each of two Turkish companies worth over RM1 billion collectively.
In a filing to Bursa Malaysia, MAHB said the companies are Istanbul Sabiha Gokcen Uluslararasi Havalimani Yatirim Yapim ve Isletme A.S (ISG) and LGM Havalimani Isletmeleri Ticaret ve Turizm A.S.
MAHB will acquire ISG from GMR Infrastructure Ltd and GMR Infrastructure Overseas Ltd (GMRO) for RM705.726 million, and LGM from GMRO and GMR Infrastructure (Global) Ltd at RM302.454 million.
ISG’s core business is the management of airport operations in Sabiha Airport.
LGM’s operations include establishing and operating hotels at Sabiha Airport as well as establish, operate, lease and lease out food and beverage facilities and trading at the facility.
Bernama