| Utility heavyweight Tenaga Nasional Bhd (TNB) is inching towards a multi-billion dollar purchase of energy assets from 1Malaysia Development Bhd (1MDB) after a rival bidder dropped out, a deal that would bring welcome financial relief to the state fund. Hong Kong-listed CGN Meiya Power Holidings Co, the only firm beyond TNB to have openly expressed an interest for some 1MDB assets, said in regulatory filings on Friday it was no longer considering the transaction.
Other companies that had been initially shortlisted for the asset sale were not expected to bid before an end of week deadline, leaving the field open for the Malaysian suitor, bankers and sources close to the situation told Reuters...............................................Full Article: Source
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