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1MDB sells off energy assets to China firm for RM9.83b

The assets come under Edra Global, which had to abort its listing bid in Malaysia

Published Mon, Nov 23, 2015 · 09:50 PM

Kuala Lumpur

MALAYSIA'S beleaguered 1MDB has sold its energy assets under Edra Global Energy Bhd to China General Nuclear Power Corporation (CGN) and its subsidiaries for RM9.83 billion (S$3.24 billion) in cash, in the first of a three-step asset-sale strategy to pare its estimated RM42-billion debt down to more sustainable levels.

A share sale-and-purchase agreement was executed for the 10…

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