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CIMB to advise KL on sale of 1MDB firm
Published Thu, Mar 26, 2015 · 09:50 PM
Kuala Lumpur
CIMB Group Holdings Bhd, Malaysia's second-largest bank by assets, said on Thursday it has been appointed by the country's Finance Ministry to act as adviser for the potential sale of power firm Edra Global Energy Bhd, owned by indebted state fund 1MDB, to strategic investors.
"CIMB's role will include identifying potential buyers and running a competitive process for Edra to derive an optimal outcome for the ministry of finance," CIMB said in a press statement.
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