Ananda offers $11 billion for Maxis privatisation
03 May 2007
Kuala Lumpur: In what could be Malaysia''s largest corporate deal Ananda Krishnan and associates will spend 39.46 billion ringgit ($11.54 billion) to privatise mobile operator Maxis.
Investment holding firm and special purpose vehicle for Ananda''s Usaha Tegas and affiliates, Binariang GSM, said through CIMB Investment Bank it would offer 15.60 ringgit for the outstanding 2.53 billion shares in addition to what Ananda currently owns.
"The consideration for the offer, to be satisfied in cash, is 15.60 ringgit," CIMB said in a notice.
CIMB said Binariang yesterday had obtained "irrevocable undertakings" from 15 firms who own a total 59.53 per cent of Maxis to accept the offer.
Binariang would also buy shares owned by employees in Maxis, Malaysia''s largest mobile operator, but CIMB did not give any figures.
Maxis shares last traded at 13.00 ringgit before they were suspended on the Malaysian bourse Monday after reports about the deal broke.
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