1MDB close to sealing deal with Krishnan

Kuala Lumpur

1MALAYSIA Development Bhd (1MDB) is close to agreeing on details of a deal with billionaire Ananda Krishnan that would help the state-owned investment company raise cash to repay debt, sources familiar with the matter said.

1MDB, whose advisory board is headed by Prime Minister Najib Razak, plans to make an announcement by next week, said one of the sources, who asked not to be identified as the talks are private.