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TPG, Johor Corp Talks to Take KPJ Private Have Stalled, Sources Say

  • Parties haven’t agreed on terms and valuation: sources
  • Kuala Lumpur-listed KPJ has a market value of $774 million

TPG Capital and Malaysia’s Johor Corp. have halted talks about taking Kuala Lumpur-listed KPJ Healthcare Bhd. private, according to people with knowledge of the matter.

The private equity firm and the investment arm of the Johor state government have been unable to agree on the terms of the potential purchase of Malaysia’s largest private-hospital operator including its valuation, said the people. Market volatility also weighed on the potential buyout, the people said, asking not to be identified as the process is private.