KUALA LUMPUR, Aug 30 — Finance Minister Lim Guan Eng today said that the government’s final decision to purchase four tolled highways will only be decided by the Cabinet after meeting all shareholders.

Yesterday it was reported that Minister of Finance (Incorporated) (MOF Inc) had decided to extend the negotiation period for the takeover to Oct 31 from Aug 31.

"This is just a normal extension to allow all the necessary shareholders to be reached.

"It is only a technical requirement and there is no other financial (matters) involved because they have not got their shareholders approval. That’s normal,” said Lim when met by reporters during the Progressive Alliance Conference held here.

In June, Gamuda Bhd 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 Snd Bhd (Smart).

Gamuda Bhd owns a 44 per cent stake in Litrak, a 52 per cent stake in Sprint, a 70 per cent stake in Kesas and a 50 per cent stake in SMART.

The government has made an RM6.2 billion bid to purchase the four concessionaires.

When asked if government money will be used for the purchase Lim said: "Wait for shareholders’ decision, then the Cabinet will decide.”