PRIVATELY held Golden Skies Ventures (GSV) has made a US$2.5 bil offer to fully take over the holding company of ailing state carrier Malaysia Airlines, with financing from a European bank, its executives told Reuters yesterday.
Malaysian firm GSV made the proposal a month ago, as airlines around the world were hammered by travel restrictions following the coronavirus pandemic.
“(We have secured) in excess of US$2.5 bil from the bank. We will take about three to four months to get the long-term financing,” Chief Executive Shahril Lamin told Reuters in a phone interview.
GSV also has a commitment from a Japanese private equity firm to inject immediate funds into the aviation group through an equity deal.
The Edge weekly had first reported GSV’s proposal over the weekend. – April 7, 2020, Reuters
