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BUSINESS

Gamuda: SSPAs of four expressway concession companies executed

08/08/2022 04:08 PM

KUALA LUMPUR, Aug 8 (Bernama) -- 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 per cent approval rating at Gamuda and Lingkaran Trans Kota Sdn Bhd’s (Litrak) extraordinary general meetings held on July 27 and Aug 5 respectively. 

“All the conditions as set out in the respective CLOO have been fulfilled on Aug 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 company namely Kesas Sdn Bhd; Sistem Penyuraian Trafik KL Barat Sdn Bhd (Sprint); Lingkaran Trans Kota Sdn Bhd (Litrak); 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 per cent stake in KESAS Sdn Bhd; 51.6 per cent stake in Sprint; 43.2 per cent stake in Litrak; and 50 per cent stake in Smart. Gamuda’s share of anticipated equity value for the four companies amounts to RM2.33 billion.

-- BERNAMA


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