KUALA LUMPUR: The acquisition of all the securities of four highway concession companies - KESAS, SPRINT, LITRAK and SMART, by Amanat Lebuhraya Rakyat Bhd (ALR) has been completed.
In filing with Bursa Malaysia, Lingkaran Trans Kota Holdings Bhd (LITRAK), Gamuda Bhd and Kumpulan Perangsang Selangor Bhd (KPS) said the shares sale and purchase agreements (SSPAs) has become unconditional on Oct 13, 2022 following the fulfilment of the conditions precedent stipulated in each of the SSPAs in respect of each of the disposals.
The concession holding companies said each of the disposals is completed on Oct 13, 2022 in accordance with the terms and conditions of each of the SSPAs.
On the completion date, pursuant to the terms and conditions of each of the SSPAs, Gamuda, LITRAk and KPS, being the concession holding companies of KESAS, SPRINT and LITRAK, have received a total sum of RM4.26 billion, RM3.07 billion and RM863 million, respectively, from ALR.
The amount received by each group were based on the shares they held in the concessions.
In relation to the Disposal of SMART, Gamuda said ALR has paid the equity value equivalent to RM1 to SMART Holdings on the completion date.
"ALR has also paid in full, the redemption amount of RM316 million to the bank account provided by the facility/security agent under the terms of the sukuk facilities on the completion date,” it said. - Bernama