November 29, 2018 / 12:51 AM / a year ago

Malaysia's Khazanah to sell stake in IHH to Mitsui for $2 bln

KUALA LUMPUR, Nov 29 (Reuters) - Malaysian sovereign wealth fund Khazanah Nasional Bhd said on Thursday it has agreed to sell a 16 percent equity stake in IHH Healthcare Bhd to Mitsui & Co Ltd for 8.42 billion ringgit ($2 billion) in cash.

Khazanah said it entered into an agreement with Japan’s Mitsui to divest 1.4 billion shares in IHH, and that it will remain a large shareholder in the company.

Khazanah’s shareholding in IHH will decrease to 26.05 percent after the sale, based on the enlarged share capital of IHH after the Malaysian healthcare group completes a 30 percent acquisition of an additional equity interest in Acibadem Saglik Yatirimlari Holding A.S., a Turkey-based healthcare group. ($1 = 4.1910 ringgit) (Reporting by Liz Lee; Editing by Muralikumar Anantharaman)

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