Monday, 8 July 2013

1MDB to fork out RM1.2bn to acquire 75% of Jimah Energy Ventures

1Malaysia Development Bhd (1MDB) will fork out RM1.2bn to acquire 75% of Jimah Energy Ventures Holdings. The deal comes amid strong market murmurs that 1MDB plans to raise as much as US$1bn (RM3.19bn) via an initial public offering (IPO). Indications are that 1MDB may be listed by as early as next year, and if indeed the IPO takes place, then it will have to compete with tycoon Tan Sri Syed Mokhtar Albukhary.s Malakoff Corp. (BT)

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