KUALA LUMPUR: 1Malaysia Development Berhad (1MDB) will sign a share sale and purchase agreement to sell 60% of its equity in Bandar Malaysia Sdn Bhd to a consortium for RM7.41bil, the final milestone in its rationalisation plan.
The buyer, a consortium known as IWH-CREC Sdn Bhd, is a 60:40 joint venture between Iskandar Waterfront Holding Sdn Bhd (IWH) and China Railway Engineering Corporation.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
