SPLASH, Air Selangor extend SPA execution deadline to Sept 30

PETALING JAYA: Gamuda Bhd and Kumpulan Perangsang Selangor Bhd's associate company Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) and Pengurusan Air Selangor Sdn Bhd (Air Selangor) have mutually agreed to extend the execution of the sale and purchase agreement(SPA) to no later than Sept 30.
Both group's announced in their respective stock exchange filings, that the deadline has been extended from today to the end of the month.
Splash is a wholly-owned subsidiary of Syarikat Pengeluar Air Selangor Holdings Bhd (Splash Holdings), in which Gamuda has 40% interest via its 80% owned Gamuda Water Sdn Bhd, while Kumpulan Perangsang Selangor Bhd (KPS) and The Sweet Water Alliance Sdn Bhd own 30% each.
Gamuda Bhd had on Aug 27, accepted Air Selangor’s offer to acquire its 40%-owned associate company SPLASH as part of the Selangor water restructuring plan in a RM2.55billion takeover offer.
Gamuda’s shares rose 0.29% to RM3.42 with 3.08 million shares done.
Kumpulan Perangsang Selangor, on the other hand, remained unchanged at RM1.58 with 759,700 shares done.