Malaysian state investor Khazanah Nasional, which owns nearly 70 per cent of the airline, said it had submitted a proposal to the Malaysia Airlines to delist the company. Under the plan, minority shareholders will be bought out.
Khazanah said delisting is the first step in a restructuring process to overhaul Malaysia's national air carrier.
The fund said that more details will be announced by the end of the month.
The takeover would cost 1.38 billion ringgit ($429 million).
"The proposal will enable minority ordinary shareholders of MAS to receive a capital repayment amount of 27 sen per ordinary share.
“Upon successful completion of the Proposed SCR, Khazanah will become the sole ordinary shareholder of MAS, which would lead to a de-listing
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