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Media Statement by 1MDB on the Acquisition of Genting Berhad Power Generation Business in Malaysia as Announced by Genting Berhad
KUALA LUMPUR, 13 August 2012: 1MDB (1Malaysia Development Berhad) has entered into a conditional share sale agreement to acquire the Malaysian power generation business of Genting Berhad today.
The acquisition is a step towards greater efficiency and a more sustainable energy security in the long term, as power availability is critical to maintain investors’ confidence and to support the economic growth of the country.
Given its unique private-public sector dynamics, 1MDB can create new synergies and catalyze the adoption of innovations in green and sustainable technologies.
The transaction is subject to customary financing and regulatory approvals.
For the complete announcement, please click here.