KUALA LUMPUR: MMC Corp Bhd has agreed to accept the RM184.5mil offer from the government to take over the SMART tunnel.
MMC Corp owns 50% of Syarikat Mengurus Air Banjir & Terowong Sdn Bhd (SMART), the toll concessionaire for the storm water and road tunnel in Kuala Lumpur.
MMC's joint venture partner in the project, Gamuda Bhd , has already accepted the government's offer on June 27.
"The acceptance of the offer is subject to the finalisation of the terms and conditions of the definitive agreement to be executed," MMC said in a filing with Bursa Malaysia today.
The Minister of Finance Inc, on June 21, has made a RM6.2bil offer to acquire four toll concession companies. - Lingkaran Trans Kota Holdings Bhd , Kesas Holdings Bhd, Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd and SMART.
Gamuda has stakes in all four companies.
https://www.thestar.com.my/business/business-news/2019/07/05/mmc-accepts-mof-inc-offer-to-take-over-smart-tunnel/
