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[KUALA LUMPUR] After a turbulent ride fraught with pricing and sovereignty concerns, controversial consortium ties, and lingering doubts over its ability to elevate Kuala Lumpur International Airport’s (KLIA) global standing, the RM7.3 billion (S$2.2 billion) privatisation of Malaysia Airports Holdings Berhad (MAHB) is nearly done and dusted.

On Thursday (Feb 20), trading in MAHB’s stock was suspended to make way for the official delisting set for Feb 26.

With that, MAHB, which operates 39 airports across the country as well as the main international airport in Turkiye, is set to make history as it exits Bursa Malaysia after 25 years as a publicly listed company.

The deal, announced last May, was spearheaded by the Gateway Development Alliance (GDA) consortium, which includes Khazanah Nasional, the Employees Provident Fund (EPF) and other strategic partners including a company linked to New York-based BlackRock.

While the privatisation seeks to improve MAHB’s financial stability and operational performance, the move sparked controversy. While an independent adviser has deemed the offer “not fair but reasonable”, MAHB’s independent directors have strongly opposed it, arguing that it is both unfair and unreasonable.