KUALA LUMPUR, July 10 — The Finance Ministry (MoF) has stressed that asset management firm BlackRock Inc was not involved in discussions carried out by members of the consortium led by Khazanah Nasional and the Employees Provident Fund concerning the 30 per cent minority stake in Malaysia Airports Holding Bhd (MAHB).
The government was also informed by the consortium members that although Global Infrastructure Partners (GIP) will be taken over by BlackRock later, GIP’s management will retain full control and responsibility for the strategic directions of GIP and its investee companies.
“This means GIP will continue to operate separately from BlackRock. The Abu Dhabi Investment Authority 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 written reply posted on the Parliament website yesterday.
Hence, the transaction completely did not involve BlackRock, MoF said in response to Padang Serai MP Datuk Azman Nasrudin's query on the rationale for selling the stake in MAHB, given that BlackRock is GIP’s future owner.
The ministry added the consortium is of the view that privatising MAHB is the best move forward as it would allow any decision and long-term investments to be expedited.
The consortium’s main areas of focus include completing high-priority capital projects, enhancing passenger experience at all airports, working closely with airline companies, accelerating capital investments, and developing secondary businesses around the airports.
In a written reply to Bernama recently, GIP said BlackRock was never involved in any transaction related to the restructuring of the MAHB shareholding via the Gateway Development Alliance consortium.
— Bernama
