| 1Malaysia Development Bhd (1MDB) said it has broken even on its investments in Edra Energy Global after it was sold to China General Nuclear Power Corporation (CGN). The sovereign fund said it will receive RM9.83 billion from the deal while CGN will take on Edra’s RM7.43 billion debt.
“Accordingly through cash receipts and debt transfer, 1MDB will achieve debt reduction of up to RM17 billion, which is well within the anticipated RM16 billion to RM18 billion range per the rationalisation plan. “Accordingly, 1MDB has essentially ‘broke even’ on its investment through an international tender process,” the state investment arm said...............................................Full Article: Source
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