Global Infrastructure Partners (GIP) has reiterated that BlackRock Inc is not involved in the move to privatize Malaysia Airports Holdings Bhd (MAHB) through the Gateway Development Alliance (GDA). Despite BlackRock’s ongoing acquisition of GIP, they are not part of the privatization effort.
GIP’s Expertise
Phil Iley, head of transport at GIP, highlighted that BlackRock recognizes GIP’s expertise in infrastructure investing. GIP manages a substantial portfolio of assets (approximately US$112 billion) on behalf of its investors, including around 500 institutional investors globally1.
Ownership Details
The GDA consortium, led by Malaysian Government Linked Investment Companies (Khazanah Nasional Bhd and Employees Provident Fund), aims to acquire all shares in MAHB not already owned by the Consortium. The offer price is RM11.00 per share, equivalent to RM18.4 billion. After the transaction, Khazanah’s stake in MAHB will increase to 40%, and EPF’s stake will rise to 30%.
GIP’s Ambitions and Blackrock
GIP believes in the potential of both MAHB and Malaysia. They aim to enhance the passenger experience, improve airline connectivity, and upgrade airport infrastructure. Their investment is expected to benefit all stakeholders, including passengers, airlines, and businesses interacting with MAHB’s airports.
Black Rock’s non-involvement in the privatization process aligns with GIP’s strategic direction, emphasizing their commitment to MAHB’s growth and lasting economic benefits for Malaysia.
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