Minister of Finance (Incorporated) (MOF Inc) and Gamuda Bhd's 70 per cent owned unit, Kesas Holdings, have agreed to extend the cut-off date to negotiate and finalise the terms of the definitive agreement on the take over of highway concessions to Oct 31 from Aug 30.

The group’s associated companies, as well as its joint venture company and MOF Inc have also agreed to extend the negotiations.

“All other terms contained in the offers shall continue to be in full force and effect,” it said in a filing with Bursa Malaysia today.

In June, Gamuda accepted a proposed offer by MOF Inc to purchase all of its equity stake in four companies.

The companies are Kesas Sdn Bhd, Sistem Penyuraian Trafik KL Barat Sdn Bhd (Sprint), Lingkaran Trans Kota Sdn Bhd (Litrak) and Syarikat Mengurus Air Banjir dan Terowong Sdn Bhd (Smart).

The government has made a RM6.2 billion bid to take over the four concessions.

- Bernama