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ASSET management firm BlackRock Inc was not involved in discussions carried out by members of the consortium led by Khazanah Nasional and Employees Provident Fund about the 30% minority stake in Malaysia Airports Holding Bhd (MAHB).
Bernama reported that the Finance Ministry (MOF) said Global Infrastructure Partners (GIP) would retain full control over the strategic direction of GIP and its investee companies.
“Although GIP will be taken over by BlackRock later, GIP will continue to operate separately from BlackRock.
“The Abu Dhabi Investment Authority and GIP will also hold a 30% minority interest in MAHB. (Thus) all important decisions on MAHB will only be implemented with the agreement of consortium members,” MOF said in a written reply posted on the parliament website on Tuesday.
In reply to a query from Datuk Azman Nasrudin (Padang Serai-PN), MOF said the transaction completely excluded BlackRock.
Azman had sought to know the rationale for selling the stake in MAHB given that BlackRock is GIP’s future owner.
“The consortium is of the view that the privatisation of MAHB is the best move forward as it would allow any decision and long-term investments to be expedited,” said MOF.
The consortium’s main areas of focus, it added, include completing high-priority capital projects, enhancing passenger experience at all airports, working closely with airline companies, accelerating capital investments, and developing secondary businesses around the airports.
In a written reply to Bernama recently, GIP said BlackRock was never involved in any transaction related to the restructuring of the MAHB shareholding via the Gateway Development Alliance consortium. – July 10, 2024.