<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on July 3, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Kumpulan Perangsang Selangor Bhd (KPS) has given the green light to the government’s proposed acquisition of all the securities of Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint Holdings) in Sprint. KPS owns a 20% stake in Sprint Holdings, which wholly owns highway operator Sprint.</p></div>

<div class=newsTextDataWrapInner><p>“The board today (yesterday) deliberated on the Sprint offer and has resolved to vote in favour of accepting the Sprint offer,” KPS said in a filing with Bursa Malaysia yesterday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The board, it added, will make the appropriate announcements after going through the relevant due process with Sprint Holdings.</p></div>

<div class=newsTextDataWrapInner><p>Last week, KPS said the Minister of Finance Inc (MoF Inc) had made an offer to buy Sprint for RM1.98 billion.</p></div>

<div class=newsTextDataWrapInner><p>The acquisition is to be undertaken by a special purpose company wholly owned by MoF Inc, said KPS, noting the offer remains valid until July 12.</p></div>

<div class=newsTextDataWrapInner><p>KPS said the offer is subject to satisfactory due diligence findings, the cabinet of Malaysia’s approval, the execution of a definitive agreement in respect of the offer and adherence to the terms of the offer.</p></div>

<div class=newsTextDataWrapInner><p>KPS shares closed three sen or 3.03% higher at RM1.02 yesterday, valuing the company at RM548.14 million. Over the past 12 months, the stock has declined some 22.3%.</p></div>


KUALA LUMPUR: Kumpulan Perangsang Selangor Bhd (KPS) has given the green light to the government’s proposed acquisition of all the securities of Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint Holdings) in Sprint. KPS owns a 20% stake in Sprint Holdings, which wholly owns highway opera...

KPS says yes to Sprint Holdings stake sale

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