UEM Edgenta attracts local and foreign suitors


Divestment plan: A file picture showing Mitsui’s logo in Tokyo. Khazanah’s sale of a 16 stake to Mistui for RM8.42bil is expected to be completed by the first quarter of this year. Sources say that the share sale in IHH will be followed by divestment in at least eight more companies. UEM Edgenta is one of them. — Reuters

Divestment plan: A file picture showing Mitsui’s logo in Tokyo. Khazanah’s sale of a 16 stake to Mistui for RM8.42bil is expected to be completed by the first quarter of this year. Sources say that the share sale in IHH will be followed by divestment in at least eight more companies. UEM Edgenta is one of them. — Reuters

However, Khazanah may not consider selling its stake anytime soon

KHAZANAH Nasional Bhd’s majority-controlled UEM Edgenta Bhd has attracted a number of suitors, both local and foreign, sources says.

Interested parties, which include the company’s own management, are eyeing to acquire Khazanah’s stake in the facilities maintenance operator.

The proposals are said to have been submitted to Khazanah.

Khazanah is the single largest shareholder of UEM Edgenta. Its wholly-owned subsidiary, UEM Group Bhd, has a stake of 69.1% in UEM Edgenta.

Khazanah is currently in the midst of an asset rationalisation exercise under its new management.

The paring down of its stake in healthcare services provider, IHH Healthcare Bhd , to Japan’s Mitsui & Co Ltd marked Khazanah’s first step in its divestment drive.

In November last year, Khazanah announced that it will sell its 1.4 billion shares or a 16% equity stake in IHH to Mitsui for RM8.42bil.

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UEM , Khazanah