Axiata will get BNM’s approval on hyperlink internet buy, MTO provide proposals

KUALA LUMPUR: Axiata Group Bhd has been granted approval beneath Financial institution Negara Malaysia’s International Change Notices (consolidated) to pay Axiata Investments (Indonesia) Sdn Bhd’s (All) portion of the acquisition and necessary tender provide (MTO) concerns pursuant to the acquisition of PT Hyperlink Internet Tbk (Hyperlink Internet ) proposals.

On Jan 27, Axiata in a submitting to Bursa Malaysia introduced that the group and its oblique 61.48 per cent owned unit, PT XL Axiata Tbk, have been collectively buying 66.03 per cent fairness curiosity in Hyperlink Internet and can perform an MTO for the remaining 33.97 per cent of Hyperlink Internet shares for a complete buy sum of RM3.86 billion for a 100 per cent stake.

The events agreed to accumulate Hyperlink Internet fairness at 4,800 rupiah per peculiar share from Asia Hyperlink Dewa Pte Ltd (ALD) and PT First Media Tbk (FM).

This interprets to a price of about RM3.86 billion (13.21 trillion rupiah) for your complete fairness curiosity in Hyperlink Internet.

Beneath the phrases, All, an oblique wholly-owned subsidiary of Axiata and XL Axiata will purchase 46.03 per cent and 20 per cent, respectively, from the mixed fairness curiosity of 66.03 per cent in Hyperlink Internet held by ALD and FM for RM2.55 billion (8.72 trillion rupiah).

All will then be obligated to undertake an MTO to accumulate the remaining 33.97 per cent of Hyperlink Internet shares pursuant to regulatory necessities in Indonesia. – Bernama


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