A consortium led by Hong Kongese private equity firm RRJ Capital is considering acquiring PLUS Malaysia Bhd, a highway concessionaries operator company.

In a deal which will see the firm acquire a 100 percent equity interest in PLUS Malaysia, RRJ Capital has offered $716 million in cash to acquire PLUS Malaysia.

If successful, RRJ Capital, via PLUS Malaysia, will be responsible for the operation and maintenance of the 957 kilometers of highways in PLUS Malaysia's portfolio.

With the proposed deal, RRJ Capital intends to reduce toll rates by 20 percent for motorists across the board.