MoF Clarifies BlackRock’s Non-Involvement In MAHB Stake Sale – BusinessToday

MoF Clarifies BlackRock’s Non-Involvement In MAHB Stake Sale – BusinessToday

The Ministry of Finance (MoF) has clarified that BlackRock Inc. had no role in the recent discussions by the consortium led by Khazanah Nasional and the Employees Provident Fund regarding the sale of a 30 percent minority stake in Malaysia Airports Holding Bhd (MAHB).

The ministry highlighted that while Global Infrastructure Partners (GIP) will eventually be acquired by BlackRock, GIP’s management will maintain full control and responsibility for its strategic directions and those of its investee companies.

“This means GIP will continue to operate separately from BlackRock. The Abu Dhabi Investment Authority (ADIA) and GIP will also hold a 30 percent minority interest in MAHB. All important decisions on MAHB will only be implemented with the agreement of consortium members,” the ministry said in a written reply posted on the Parliament website yesterday.

The MoF’s statement was in response to a query from Datuk Azman Nasrudin (PN-Padang Serai) who questioned the rationale for selling the MAHB stake, considering BlackRock’s impending acquisition of GIP.

The ministry explained that the consortium believes that privatizing MAHB is the best way forward, as it would expedite decision-making and long-term investments.

The consortium’s priorities include completing high-priority capital projects, enhancing passenger experiences at all airports, collaborating closely with airline companies, accelerating capital investments, and developing secondary businesses around the airports.

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