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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Malaysia’s 1MDB to Sell Energy Assets to China Nuclear Firm

Posted on 24 November 2015

A Malaysian government-investment fund struggling to dig itself out of a heavy debt load sealed a $2.3 billion deal to sell a collection of energy assets to a Chinese state-owned firm. China General Nuclear Power Corp. is purchasing all of the energy assets of 1Malaysia Development Bhd., or 1MDB, for 9.83 billion Malaysian ringgit ($2.3 billion) in cash.
Those assets, known as Edra, consist of 13 power plants across five countries from Malaysia to Egypt and Bangladesh. China General Nuclear will also assume an unspecified amount of debt as part of the deal………………………………………..Full Article: Source


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