Malaysian firm bids $2.5b for MAS, funded by European bank

Privately held Golden Skies Ventures has made a $2.5b offer to fully take over the holding company of ailing state carrier Malaysia Airlines, with financing from a European bank, its executives said Monday. 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 $2.5b from the bank. We will take about three to four months to get the long-term financing,” CE Shahril Lamin said. GSV also has a commitment from a Japanese private equity firm to inject immediate funds into the aviation group through an equity deal. GSV declined to name the firms involved and said it was also in talks with other foreign banks and private equity firms for further funding. GSV has submitted its proposal to Morgan Stanley, the banker hired by the aviation group’s sole owner Khazanah Nasional Bhd.<br/>