1Malaysia Development Bhd. agreed to sell its power assets to China General Nuclear Power Corp. for 9.83 billion ringgit ($2.3 billion) as the state investment company moved one step closer to winding down operations after its mounting debt raised investor concern.
China General Nuclear will assume all gross debt and cash of Edra Global Energy Bhd. and its subsidiaries, according to a joint statement released Monday. The transaction is expected to be completed in February.
