KUALA LUMPUR — Dec. 17, 2018: Sime Darby Property and SP Setia are disposing off their stake in the Battersea power station project for a base consideration of RM8.351 billion to PNB-Kwasa International 2 Ltd.
The transaction is expected to be completed in the first quarter of next year, said a statement.
PNB-Kwasa International 2 is a joint venture of Permodalan Nasional Berhad and the Employees Provident Fund.
Battersea Phase 2 Holding Company Ltd (Battersea Phase 2 Holdco) is a wholly-owned subsidiary of Battersea Project Holding Co Ltd, which is owned by Sime Darby Property and SP Setia, each with 40 per cent, and the Employees Provident Fund Board holding the rest.
The ownership reorganisation for Phase 2 of the Battersea Power Station Commercial Assets has taken a major step forward with the signing of a sale and purchase agreement last Friday between Battersea Phase 2 Holdco and PNB-Kwasa, Sime Darby Property and SP Setia said in a joint statement. — Bernama