BlackRock not involved in MAHB privatisation, says GIP

GLOBAL Infrastructure Partners (GIP) has reiterated that BlackRock Inc is not involved in the privatisation of Malaysia Airports Holdings Bhd (MAHB) through Gateway Development Alliance (GDA), Bernama reports.

Phil Iley, GIP transport head and GDA director, said it was announced in January that BlackRock was acquiring GIP and that the transaction was expected to be completed in the third quarter of 2024.

He said Blackrock recognises GIP’s expertise in infrastructure investing.

“After the transaction closes, GIP’s existing leadership team will retain full control and responsibility for the strategic direction and operation of GIP and the companies in which we have invested,” he told Bernama in a written reply.

GIP is a leading infrastructure investor managing US$112 billion (RM527 billion) of assets on behalf of 500 institutional investors globally.

On May 15, GDA and its shareholders announced a pre-conditional voluntary offer to acquire all the shares in MAHB not already owned by the consortium at the price of RM11 per share, or RM18.4 billion.

The consortium is led by two Malaysian government-linked investment companies, Khazanah Nasional Bhd, via its wholly owned subsidiary UEM Group Bhd, and the Employees Provident Fund.

Iley said GIP specialises in investing, managing, and operating some of the largest and most complex infrastructure businesses in the world, including several airports.

Investments in MAHB

Iley said GDA’s offer is an opportunity to apply its expertise to deliver improvements at MAHB that will benefit all stakeholders, including passengers, airlines, staff, and the broader set of businesses that interact with MAHB’s airports, ranging from tourism to manufacturing.

“By making a substantial investment in MAHB, we and our partners are strongly incentivised to ensure that it achieves the ambitions we have for it," he said.

“In addition, although we will only be a minority shareholder, we expect to play the role of a technical partner in GDA and bring MAHB as much operational support and assistance as it needs.

“We and our partners are optimistic and are committed to putting in the work to take MAHB to the next level." – June 21, 2024.