Blackrock takeover of GIP not yet final, Khazanah boss argues

A Khazanah Nasional top boss appeared to dismiss concerns that its plan to take over Malaysia Airport Holdings Berhad (MAHB) would lead to a pro-Zionist firm becoming a joint beneficiary owner.

Khazanah managing director Amirul Feisal Wan Zahir said as of now, the Blackrock takeover of Global Infrastructure Partners (GIP) is not yet finalised.

“To the best of my knowledge their deal has yet to be concluded,” Amirul (above) said in an interview with Bernama.

Blackrock had in January announced that it would be fully acquiring GIP, with the deal expected to be finalised in the third quarter of this year, meaning between July and September.

Blackrock is the world’s largest asset manager - which has close ties with Israel and invests heavily in weapons manufacturers that provide arms to the Zionist regime.

Two weeks ago, the Gateway Development Alliance (GDA), a consortium made up of Khazanah, the Employee Provident Fund (EPF), GIP, and the Abu Dhabi Investment Authority (Adia) announced an offer to take over shares in MAHB that are not already owned by Khazanah and EPF.

GIP and Adia are going into the consortium under the joint venture, GIP Aurea.

‘Blackrock not consortium partner’

If the deal is completed, Khazanah and EPF will end up controlling 70 percent of MAHB, while GIP Aurea will hold another 30 percent.

As GIP owns 83.3 percent of GIP Aurea, its effective stake in MAHB would be 25 percent, according to The Edge.

READ MORE: Khazanah, EPF bosses say MAHB takeover will boost competitiveness

The proposal has stirred criticism that a firm effectively owned by a pro-Zionist company would have a significant stake in Malaysian assets, which contradicts Malaysia’s stance against Israel.

Amirul, however, stressed that Blackrock was not part of its consortium.

“Regarding the GDA, we would like to clarify that our direct consortium partners are Adia and GIP, not Blackrock,” he told Bernama.

Elaborating on why GIP was chosen as a partner, EPF chief executive officer Ahmad Zulqarnain Onn said the former could bring major improvements to MAHB airports.

“We believe that GIP could bring innovative ideas and strategies to elevate passenger experience.

“This would include improvements in passenger flow, enhanced food and beverage offerings, and more efficient security and immigration controls.

“And GIP has successfully delivered all these,” he said.

GIP manages Sydney Airport in Australia and Gatwick Airport in London, which have been ranked among the worst airports in the world.

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