Malaysia Airlines to be delisted

|By:, SA News Editor

Malaysian Airlines (OTCPK:MLYAF) will be delisted and privatized after sovereign wealth fund Khazanah Nasional, which currently owns 69.4% of the airline, offered to buy out the remaining stock it doesn’t already own to begin the company's restructuring.

The airline has been hurt by two major tragedies in recent months - the crash of flight MH17 in Ukraine and the disappearance of flight MH370.

Khazanah will pay 0.27 ringgit per share, a total of 1.38B ringgit ($429M), for the remaining 30.6% of the company (a 12.5% premium yesterday's closing price).