Business / Companies

CGN completes deal with Malaysian firm to buy clean energy assets

(Xinhua) Updated: 2016-03-24 13:51

KUALA LUMPUR - Malaysia's state investment company 1MDB said Wednesday that it had completed a deal with China General Nuclear Power Corporation (CGN) to sell its energy assets to one of China's leading clean energy companies.

Under an equity purchase agreement signed last year, CGN agreed to buy 100 percent of 1MDB's ownership in all its energy assets, including 13 clean energy projects scattered in Malaysia, Egypt, Pakistan, United Arab Emirates (UAE), etc.

1MDB said in a statement that following satisfaction of all conditions precedent, the agreement was successfully completed on Wednesday.

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