KUALA LUMPUR (June 24): Kumpulan Perangsang Selangor Bhd (KPS) said Minister of Finance Inc (MOF Inc) has made an offer to acquire all the securities of its 20% associated company, Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (SPRINT Holdings) for RM1.98 billion, less debts.

It said MOF Inc had made the offer on June 21, and that the acquisition will be undertaken by a special purpose company wholly owned by MOF Inc.

KPS said the offer is subject to satisfactory due diligence findings, the approval of the Cabinet of Malaysia, the execution of a definitive agreement in respect of the offer and adherence to the terms of the offer.

The company said the offer remains valid until July 12.