MAHB shares marginally down following disposal in GMIAL

PETALING JAYA: Malaysia Airports Holdings Bhd's (MAHB) share price fell marginally by 0.23% this morning following the disposal of its entire 23% stake in GMR Male International Airport Ltd (GMIAL) for US$7.3 million (RM28.5 million).
At 10.32am, MAHB stood at RM8.85 with 228,000 shares changing hands.
MAHB told Bursa Malaysia that its wholly owned subsidiary Malaysia Airports (Labuan) Private Ltd (MALPL) had on March 14, 2018 entered into a share purchase agreement (SPA) with India’s GMR Holdings for the disposal, including receivables and loans.
The airport operator will see a gain of US$7.3 million from the sale, as the total carrying value of GMIAL in MAHB’s book was fully impaired in 2014. MALPL invested a total equity of US$6.9 million for the 23% shares in GMIAL.