Can Khazanah scuttle Fortis?
Now the JV shareholder agreement between Khazanah and Parkway provides a mechanism to resolve any deadlock in Pantai. This would first mean a negotiation in good faith, failing which, negotiations to effect a sale to each other. If this also fails, both parties will take all necessary steps to jointly dispose off their interests to a third party. If there is no third party sale within 18 months from the beginning of the deadlock, the shareholders shall settle all Pantai debt in accordance with their respective shareholding proportion, after which they will take all steps necessary to voluntarily wind up Pantai.
