Sprint highway accepts takeover offer from ALR

Sprint highway accepts takeover offer from ALR

The highway concessionaire delivered its written acceptance to Amanat Lebuhraya Rakyat today, a stock exchange filing shows.

The concession holder for Sprint highway has agreed to a RM1.81 billion takeover offer, the stock exchange was told today.
KUALA LUMPUR:
Sprint highway has agreed to a takeover offer from Amanat Lebuhraya Rakyat Bhd (ALR), a company which holds a government mandate to restructure four Klang Valley highways, it was announced today.

The announcement was made in a stock exchange filing by public-listed Kumpulan Perangsang Selangor Bhd (KPS), which has a 20% stake in Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint Holdings).

Sprint Holdings own Sistem Penyuraian Traffik KL Barat Sdn Bhd (Sprint) which holds the concession to collect tolls on the highway, which comprises the Kerinchi link, Damansara link and Penchala link.

KPS said the written acceptance was delivered by Sprint Holdings to ALR today, Bernama reported.

“Sprint Holdings expects to commence negotiations with ALR to finalise the terms and conditions of the definitive agreement for the proposed disposal and to execute the definitive agreement,” it said in a filing with Bursa Malaysia.

KPS had announced on April 4 that ALR had made an offer of RM1.81 billion to acquire the entire equity interest of Sprint.

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