KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) has received final, binding and fully-funded offers from three strategic investors, comprising both domestic and international parties, in relation to the monetisation of equity in its subsidiary, Edra Global Energy Bhd (Edra).
“This marks a significant milestone with regards to the implementation of our rationalisation plan, first announced by the Ministry of Finance on May 29, 2015,” 1MDB said in a statement here, today.
It said over the next few weeks, 1MDB will be conducting an evaluation of the offers received, including reviewing the terms and conditions of the definitive agreements that the parties have proposed, and seek clarification where required.
“As previously highlighted, our Board of Directors will be guided by, among other things, value maximisation to 1MDB’s shareholder, deal certainty and terms that are fair and reasonable in assessing these offers,” it added.
1MDB expects to enter into a definitive agreement with the chosen party shortly after the evaluation and negotiation process has been completed, before the end of 2015. – Bernama