KUALA LUMPUR Nov 17 Malaysia's UEM Group
Bhd and the Employees Provident Fund will raise as much as 33
billion ringgit ($10.5 billion) to fund a takeover of highway
operator PLUS Expressways Bhd, a financial daily said
"The money will consist of about 22 billion ringgit for the
consideration to take over PLUS and about 11 billion ringgit of
its existing debts," the Malaysian Reserve quoted UEM Group's
managing director and chief executive, Izzadin Idris, as saying.
CIMB Group Holdings Bhd will be the lead arranger
of Islamic debt, or sukuk, the newspaper reported, quoting
The bank was not immediately available for comment.
UEM Group is an investment holding company wholly-owned by
Malaysian investment arm Khazanah Nasional. UEM Group
made a joint offer with the EPF to take PLUS private late last
($1 = 3.151 Malaysian Ringgit)
(Reporting by Min Hun Fong; Editing by Jane Lee)