GIP said its existing leadership team will “retain full control and responsibility for the strategic direction and operation of GIP and the companies in which we have invested” after its acquisition by BlackRock, state news agency Bernama reported on Friday, citing a written reply from GIP head of transport Phil Iley.
A GIP spokesperson confirmed the Bernama report. Khazanah did not immediately respond to requests for comment.
Iley said the firm would provide MAHB with as much operational support and assistance as needed despite being a minority shareholder.
“If we are successful with our transformation, we would very much consider relisting MAHB on the Malaysian stock exchange in the future,” he wrote.
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Under the deal, GIP and the Abu Dhabi Investment Authority would own 30 per cent of MAHB, while the majority stake would be held by Khazanah and the Employees Provident Fund, Malaysia’s largest pension body. The fund did not respond to a request for comment on GIP’s statement.
BlackRock’s US$12.5 billion acquisition of GIP is expected to be completed in the third quarter.
MAHB manages 39 airports across Malaysia and an international airport in Turkey.