Khazanah to sell stake in Tenaga: sources

Kuala Lumpur

MALAYSIAN sovereign wealth fund Khazanah Nasional Bhd is divesting part of its stake in national power utility Tenaga Nasional, two sources familiar with the matter told Reuters on Thursday.

Khazanah is looking to sell 82 million shares of Tenaga, or about 1.5 per cent of the total shares outstanding, which could raise up to US$294 million, according to a termsheet seen by IFR, a Thomson Reuters publication.