1MDB to sell 60% stake in Bandar Malaysia for RM7.41bil


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.

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