(Reuters) -A takeover offer for Malaysia Airports Holdings by a consortium comprising the country’s sovereign wealth fund and BlackRock <BLK.N> has been extended for a third time this month to Feb. 4, a stock exchange filing on Monday showed.
The consortium, including Malaysia’s sovereign wealth fund Khazanah and BlackRock’s Global Infrastructure Partners, has now secured an additional 45.63% stake as of Jan. 17, the filing showed, bringing their total control to 86.51%.
The consortium also lowered the acceptance condition to at least 85%, and continued to offer 11 ringgit per share to buy all remaining shares, giving the airport operator an equity value of 18.4 billion ringgit ($4.09 billion).
The 85% acceptance condition was the level at which Malaysia Airports was expected to be removed from MSCI and other indexes, according to a joint statement by the consortium, also known as Gateway Development Alliance or GDA.
“Having already received acceptances totaling 86.5%, GDA shortly expects to declare the offer unconditional and remains confident that total acceptances will exceed 90% and that MAHB will be delisted from Bursa Malaysia,” GDA said in the statement.
The consortium had earlier extended the takeover offer to Jan. 24 from the prior deadline of Jan. 17.
Shares of the airport operator have risen around 5% since the offer was first announced in mid-May last year, but have remained below the 11 ringgit apiece offer price.
The stock was 0.4% higher at 10.94 ringgit on Monday.
($1 = 4.4980 ringgit)
(Reporting by Kumar Tanishk in Bengaluru and Yantoultra Ngui in Singapore; Editing by Rashmi Aich and Eileen Soreng)
