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Tenaga to take over 1MDB's stake in power plant
News of the 70% stake acquisition for undisclosed sum sparks slump in the national utility company's shares
Published Thu, Jun 18, 2015 · 09:50 PM
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Kuala Lumpur
MALAYSIA said on Thursday that national utility Tenaga is taking over debt-laden state fund 1Malaysia Development Bhd's entire 70 per cent stake in a planned 2,000 MW coal-fired power project, sparking a slump in Tenaga's shares.
The move marks the first sale of a power asset by 1MDB. The government has approved the takeover of 1MDB's stake in the …
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