PETALING JAYA: 1Malaysia Development Bhd (1MDB) has confirmed that it is acquiring Ananda Krishnan's Tanjong Energy Holdings Sdn Bhd for RM8.5bil as a “long term strategic investment”.
In a statement, 1MDB said it signed a definitive agreement last Friday on the equity purchase of the energy assets. The transaction is subject to customary financing and regulatory approvals, it added.
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