APRIL 2, 2002
Sepang is sold
MALAYSIA AIRPORTS HOLDINGS Bhd has confirmed that it is selling the Sepang Circuit - and the company that runs it - to the Malaysian government's investment company Minister of Finance Inc. This will help Malaysian Airports, which is also controlled by the government, to reduce some of its losses. The government was planning to sell a part of the airport business to Holland's Schipol group but that deal has fallen through.
The government says that the sale of Sepang is to concentrate the struggling airport company on its core business. The company is also selling its exhibition center to a private company for $263m.
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