Amanat Lebuhraya Rakyat Berhad entered into letter of interest to acquire Lingkaran Trans Kota Sdn Bhd from Lingkaran Trans Kota Holdings Berhad (KLSE:LITRAK) for an enterprise value of MYR 2.1 billion on April 2, 2022. In a related transaction, Amanat Lebuhraya Rakyat Berhad entered into letter of interest to acquire Sistem Penyuraian Trafik KL Barat Sdn Bhd from Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd. The deal is subject to due diligence, approval by regulatory authorities and shareholders and execution of definitive agreement. Promilia Berhad acted as financial advisor to Lingkaran Trans Kota Holdings. As of April 18, 2022, the deal has been accepted by Lingkaran Trans Kota Holdings. As of April 29, 2022, the deal has been approved by Ministry of Works Malaysia. As of May 11, 2022, the deal has been approved by Public Private Partnership Unit, Prime Minister's Department. As of June 7, 2022, Amanat Lebuhraya Rakyat and Lingkaran Trans Kota Holdings have agreed and finalised the terms and conditions of the draft share sale and purchase agreement to acquire Lingkaran Trans Kota Sdn Bhd for MYR 2.3 billion. Under the terms, Amanat Lebuhraya Rakyat will acquire 50 million ordinary shares of Lingkaran Trans Kota Sdn Bhd. Amanat Lebuhraya Rakyat intends to finance the deal via a fund-raise vide issuance of sukuk. As of July 12, 2022, the deadline for the execution of definitive agreement has been extended to August 5, 2022.As of August 5, 2022, All the conditions set out have been fulfilled. Accordingly Amanat Lebuhraya Rakyat Berhad entered into a SSPA with Litrak for the disposals.

Amanat Lebuhraya Rakyat Berhad completed the acquisition Lingkaran Trans Kota Sdn Bhd from Lingkaran Trans Kota Holdings Berhad (KLSE:LITRAK) on October 13, 2022.