TNB Submits Indicative Non-Binding Proposal to Acquire Edra Global Energy’s Power Assets
- Proposal is in initial assessment stage; no assurance transaction will be concluded
- Must pass in-depth due diligence, and independent and third-party evaluation criteria
- Non-interested shareholders will vote on any potential transaction at a general meeting
Tenaga Nasional Berhad (“TNB”) has submitted an indicative non-binding proposal to 1Malaysia Development Berhad to acquire the five domestic and eight international power assets of its wholly-owned subsidiary Edra Global Energy Berhad (“Edra”).
TNB would like to emphasise that it remains in the initial stages of its assessment of Edra’s power assets. Therefore, there can be no assurance that any transaction will be concluded. Any potential transaction would need to make strong commercial and financial sense and be value accretive to TNB’s shareholders. Any potential transaction would also be assessed based on the highest standards of corporate governance.
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