KUALA LUMPUR: UEM Group Bhd and the Employees Provident Fund (EPF) have agreed to extend the acceptance deadline of the Offer Letter to acquire PLUS EXPRESSWAYS BHD [] from 5pm on Oct 29, 2010 to 5pm on November 9 this year.
In a filing to Bursa Malaysia on Monday, Oct 25, PLUS said the offer would immediately lapse at 5pm on Nov 9 unless UEM and EPF agree in writing to extend the offer period.
On Oct 15, PLUS'' received an offer from UEM and the EPF as joint offerors to acquire all its business and undertakings , including assets and liabilities for RM23 billion or RM4.60 per share cash.
UEM and EPF had said in a joint statement on Friday, Oct 15 that they would set up a co-investment vehicle to make the offer to PLUS. The co-investment vehicle will be 51% owned by UEM Group, with the remaining 49% owned by EPF.
EPF has a 12.27% stake or 613.47 million shares in PLUS. Together, EPF and Khazanah own a 67.5% stake in the toll road operator.
PLUS owns and operates Projek Lebuhraya Utara-Selatan Bhd; Expressway Lingkaran Tengah Sdn Bhd; Linkedua (Malaysia) Bhd; and Konsortium Lebuhraya Butterworth-Kulim (KLBK) Sdn Bhd in Malaysia.
Its overseas interests include PLUS Kalyan (Mauritius) Pte Ltd; PLUS BKSP Toll Ltd; PT Lintas Marga Sedaya; PT Cimanggis Cibitung Tollways; Indu Navayuga Infra Project Pte Ltd; and PLUS Plaza (Mauritius) Pte Ltd, as well as a company to be incorporated to enter into a concession agreement in Gujarat, India.
In a filing to Bursa Malaysia on Monday, Oct 25, PLUS said the offer would immediately lapse at 5pm on Nov 9 unless UEM and EPF agree in writing to extend the offer period.
On Oct 15, PLUS'' received an offer from UEM and the EPF as joint offerors to acquire all its business and undertakings , including assets and liabilities for RM23 billion or RM4.60 per share cash.
UEM and EPF had said in a joint statement on Friday, Oct 15 that they would set up a co-investment vehicle to make the offer to PLUS. The co-investment vehicle will be 51% owned by UEM Group, with the remaining 49% owned by EPF.
EPF has a 12.27% stake or 613.47 million shares in PLUS. Together, EPF and Khazanah own a 67.5% stake in the toll road operator.
PLUS owns and operates Projek Lebuhraya Utara-Selatan Bhd; Expressway Lingkaran Tengah Sdn Bhd; Linkedua (Malaysia) Bhd; and Konsortium Lebuhraya Butterworth-Kulim (KLBK) Sdn Bhd in Malaysia.
Its overseas interests include PLUS Kalyan (Mauritius) Pte Ltd; PLUS BKSP Toll Ltd; PT Lintas Marga Sedaya; PT Cimanggis Cibitung Tollways; Indu Navayuga Infra Project Pte Ltd; and PLUS Plaza (Mauritius) Pte Ltd, as well as a company to be incorporated to enter into a concession agreement in Gujarat, India.
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