KUALA LUMPUR: At least for now, UEM Group Bhd and Employees Provident Fund (EPF) - the two main shareholders of PLUS Malaysia Bhd - do not have plans to sell their stakes in the expressway to Maju Holdings Sdn Bhd. UEM Group Bhd, which owns a 51 per cent stake in PLUS and EPF the remaining shares, said they received a non-binding letter of intent from Evercore Asia Ltd that represents highway operator Maju Holdings. Both UEM and EPF in a joint statement yesterday said Maju Holdings had expressed its intention to 'fully acquire our stakes in PLUS'. Maju Holdings executive chairman Tan Sri Abu Sahid Mohamad had previously made his intentions to acquire PLUS public. The acquisition plan is believed to cost about RM30 billion, involving both the stakes held by UEM and EPF.

Source: New Strait Times September 12, 2017 09:33 UTC