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Article: Malaysia: MMC To Acquire Senai Airport Terminal Services In RM2.2 Bln (USD672.2mn) Deal.
- Article from:
- TendersInfo
- Article date:
- August 5, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
MMC Corporation Bhd (MMC) will acquire the entire stake in Senai Airport Terminal Services Sdn Bhd (SATS) and make a voluntary general offer for Aliran Ihsan Resources Bhd (AIR) in a RM2.2 billion(USD672.2mn) deal to accelerate the groups international expansion drive in the logistics and utilities businesses.
MMC will acquire SATS for RM1.95 billion(USD596mn) in an all-share deal and AIR for up to RM240 million(USD73.3mn) in cash, said MMC in a statement released Monday. The group also said that it intended to maintain the listing status of AIR following the acquisition.
"These acquisitions are a strategic fit for MMC as they ...