(MENAFN- Arab Times) Malaysia Airports Holdings Bhd (MAHB) has announced that it will exercise its right of first refusal to acquire a 40% stake each in two Turkish companies worth more than RM1 billion.
MAHB said it will acquire ISG from GMR Infrastructure Ltd and GMR Infrastructure Overseas Ltd (GMRO) for RM705.73 million
It will also acquire LGM from GMRO and GMR Infrastructure (Global) Ltd for RM302.454 million
ISG's core business is managing the operations of Sabiha Airport
LGM's operations include establishing and operating hotels as well as establishing, operating, and leasing out food and beverage facilities and trading at the airport.
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