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Saturday, June 2, 2007

Plus Expressways Buys Elite And Linkedua

KUALA LUMPUR, June 1 (Bernama) -- Plus Expressways Bhd is to acquire two toll operators - Expressway Lingkaran Tengah Sdn Bhd (Elite) and Linkedua (Malaysia) Bhd - for RM866 million from UEM Group Bhd.Plus Expressways inked a sale and purchase agreement with UEM Group today for the proposed acquisitions.The company said it will fund the acquisitions via bank borrowings.Plus Expressways said the acquisitions would provide growth expansion and value enhancement to the group's bottomline in the future.Elite is the concessionaire for the North-South Expressway Central Link, the Kuala Lumpur International Airport (KLIA) extension link and Putrajaya Link.Linkedua is the concessionaire for the second Malaysia-Singapore crossing between Tuas in Singapore and Tanjung Kupang in Johor.

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