Malaysia's UEM, EPF to sell 33b rgt Islamic debt to buy PLUS-report

KUALA LUMPUR, Nov 17 (Reuters) - 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 on Thursday.

“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 unidentified sources.

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 year. ($1 = 3.151 Malaysian Ringgit) (Reporting by Min Hun Fong; Editing by Jane Lee)