KUALA LUMPUR:Tenaga Nasional Bhd
is one of four suitors shortlisted for the final round of bidding in state fund 1MBD's sale of its power unit Edra Global Energy Bhd, banking sources said.
The fund said on Monday it has compiled a shortlist for Edra - valued by bankers at around 10 billion ringgit ($2.3 billion) - but it did not identify the four parties.
1MDB is seeking to pare back US$11 billion in debt and the power unit is widely viewed as its best asset.
1MDB declined to comment and representatives for Tenaga were not immediately available for comment. Sources declined to be identified as they were not authorised to speak to media on the topic.
People familiar with the matter have previously told Reuters that the sale had drawn interest from at least half a dozen suitors, including Middle Eastern power firm ACWA Power, Qatar Investment Authority and Malaysia's YTL Power International Bhd.
1MDB is the largest independent power producer in Bangladesh and Egypt and the second biggest in Malaysia after Malakoff Corp Bhd. It also holds assets in the United Arab Emirates and Pakistan through joint ventures.
1MDB also said it expects to shortlist preferred bidders for its Bandar Malaysia property project before the end of this week. - Reuters
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