KUALA LUMPUR, May 27 (Reuters) - Malaysia's sovereign
wealth fund said its consortium partner, Global Infrastructure
Partners (GIP), will not hire staff to directly manage Malaysia
Airport Holdings Bhd after a deal is completed to
take the country's airport operator private, state news agency
Bernama reported.
Khazanah Nasional Bhd Managing Director Amirul
Feisal Wan Zahir also said there would be no layoffs of MAHB's
current employees following completion of the deal.
"GIP won't be directly appointing staff or secondees to
manage MAHB," he was quoted as saying in an interview with
Bernama on Sunday.
"Instead, the management will be jointly appointed by the
consortium as a whole, and we will tap into GIP's technical
expertise when needed."
GIP and MAHB did not immediately respond to requests seeking
comment on Monday.
A consortium led by Khazanah and state pension fund the
Employees Provident Fund (EPF) announced on May 15 a conditional
offer to acquire MAHB shares it did not already own in a deal
that values MAHB around $3.9 billion.
Following the deal, Khazanah and EPF will collectively
increase their ownership in MAHB to 70% from 41%, while GIP and
the Abu Dhabi Investment Authority will hold 25% and 5% stake
respectively.
BlackRock ( BLK ) announced in January that it would buy GIP for
$12.5 billion, with the acquisition expected to close in the
third quarter.
The deal faces criticism and protests from Malaysian civil
society bodies, government and opposition lawmakers over
BlackRock's ( BLK ) involvement, alleging that the U.S. company has ties
with Israel.
Muslim-Majority Malaysia is a staunch supporter of the
Palestinians. Some Western brands in the country have been the
target of boycott campaigns over Israel's military offensive in
Gaza.
Khazanah's Amirul said in the Bernama report that BlackRock ( BLK )
was not a "direct partner" in the consortium and the U.S fund
manager's acquisition of GIP "has yet to be concluded".
BlackRock ( BLK ) did not immediately respond to a request for
comment on Monday.
(Reporting by Danial Azhar; Editing by Emelia Sithole-Matarise)