Permodalan Nasional Backs Merger Between SP Setia And I&P Group

Malaysian investment giant Permodalan Nasional Berhad (PNB) is moving forward on plans to merge both of its property investments, SP Setia Berhad and I&P Group Sdn Berhad, a township developer. At the moment, SP Setia and I&P Group have 5,218 acres and 4,263 acres of undeveloped land respectively in the Klang Valley, Johor Baru, Penang and Sabah. SP Setia is buying the entire equity interest in I&P Group for a price estimated between 3.5 billion MYR to 3.75 billion MYR. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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