PNB, EPF buying assets in Battersea phase 2

Good response: Construction cranes surround the Battersea Power Station office, retail and residential development in London. Over 90 of residential units under phase 2 has been pre-sold and the entire 470,000 sq ft of office space in the power station building has been let to Apple. — Bloomberg

PETALING JAYA: Permodalan Nasional Bhd (PNB) and the Employees Provident Fund (EPF) have entered into a heads of terms to buy the commercial assets currently being developed within phase two of the Battersea Power Station project in London for £1.6bil (RM8.8bil).

PNB and the EPF have entered into a heads of terms with Battersea Phase 2 Holding Company Ltd, a unit of Battersea Project Holding Company Ltd, in which SP Setia Bhd and Sime Darby Property Bhd own a 40% stake each.