GIP will operate separately even after BlackRock takes over it

Global Infrastructure Partners (GIP) will operate separately on the share takeover of Malaysia Airports Holding Berhad (MAHB) without the involvement of BlackRock Inc, said Finance Ministry (MoF).

This is so even though GIP would be taken over by BlackRock. Post take over, GIP would still retain full control and responsibility on its strategic directions and 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 per cent minority interest in MAHB. (Thus) all important decisions on MAHB will only be implemented with the agreement of consortium members,” it said in a parliamentary written reply.

Hence, the transaction completely did not involve BlackRock, MoF said in reply to a query from Datuk Azman Nasrudin (PN-Padang Serai) who sought to know the rationale for selling the stake in MAHB given that BlackRock is GIP’s future owner.

The ministry is also of the stand that privatisation of MAHB is the best way moving forward.

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