KUALA LUMPUR, Oct 17 – 1Malaysia Development Bhd (1MDB) has received the final binding and fully-funded offers from three strategic investors which are comprising both domestic and international parties in the relation to the monetisation of equity in its subsidiary for 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. 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,” 1MDB said in a statement here on Friday.
As previously highlighted, it also added that their 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. Meanwhile, 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.
