1MDB receives three offers for Edra Global
The company will review the terms and conditions of the definitive agreements that the parties have proposed.
(Free Malaysia Today) – The management of 1Malaysia Development Berhad has announced in a statement today that it 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 Berhad (Edra).
“This marks a significant milestone with regard to the implementation of our rationalisation plan, first announced by the Ministry of Finance on 29 May 2015,” said the company in the statement. “We refer to our previous press statements relating to the monetisation of equity in Edra.”
Over the next few weeks, said the statement, 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, said the statement, the 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.
