KUALA LUMPUR – Gamuda Bhd announced that the shares sales purchase agreements (SSPAs) of four expressway concession companies were successfully executed with Amanat Lebuhraya Rakyat (ALR).
In a filing with Bursa Malaysia, the company said the SSPAs have met all conditions under the conditional letters of offer (CLOOs) with over 99% approval rating at Gamuda and Lingkaran Trans Kota Sdn Bhd’s (Litrak) extraordinary general meetings held on July 27 and August 5 respectively.
“All the conditions as set out in the respective CLOO have been fulfilled on August 5, 2022.
“Accordingly, on even date, each of the concession holding companies had entered into the respective finalised SSPA with ALR for the disposals,” it said.
The company said each of the concession holding companies – namely, Kesas Sdn Bhd; Sistem Penyuraian Trafik KL Barat Sdn Bhd (Sprint); Lingkaran Trans Kota Sdn Bhd (Litrak); and Syarikat Mengurus Air Banjir & Terowong Sdn Bhd (Smart) – had entered into the respective finalised SSPAs with ALR for the disposals.
Previously, ALR had offered to acquire a 70% stake in Kesas Sdn Bhd; 51.6% stake in Sprint; 43.2% stake in Litrak; and 50% stake in Smart. Gamuda’s share of anticipated equity value for the four companies amounts to RM2.33 billion. – Bernama, August 8, 2022
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