January 15, 2013 / 12:36 AM / 5 years ago

MALAYSIA PRESS-UEM Group in talks to acquire Sprint Highway-The Edge

Malaysian builder UEM Group Bhd is said to be in advanced discussions, via its unit PLUS Expressways Bhd, to acquire highway operator Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint).

Negotiation on the value of the purchase of Sprint is based on the highway’s future cash flow for its remaining concession period, said a financial executive with knowledge of the matter. The shareholders of Sprint are Lingkaran Trans Kota Holdings Bhd (Litrak), with a 50 percent stake, Gamuda Bhd , a 30 percent stake and Kumpulan Perangsang Selangor (KPS), 20 percent.

Sprint holds a 33-year concession for the 26.5km Sprint Highway which will expire in 2031.


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