By Mars Woo
The divestment gives Ekuinas an IRR of 26.8% and money multiple of 1.96 times the capital invested.
Chang will also relinquish his role as a director but will remain a shareholder in Soft Space.
Bankers see opportunities in transactions that could emerge from sovereign wealth fund Khazanah Nasional’s portfolio rebalancing, or at other government-linked investment companies.
Nestle (Malaysia) Bhd is disposing its chilled dairy and manufacturing businesses to French dairy group Lactalis for $37.33 million.
IHH Healthcare Bhd will increase its majority equity interest in its Turkish subsidiary Acibadem Holding from 60% to about 90%.
Calbee’s exit comes as the Philippine joint venture continues to post losses since its establishment in 2014.
It was previously reported that Khazanah’s new board is in discussions to explore a change in its investment mandate.
Nestle (Malaysia) Bhd current CEO Alois Hofbauer will depart the company on November 30 to pursue other interests and he will be replaced by Juan Aranols on December 1.
Malaysia’s biggest wireless carrier received an offer from Singapore Press Holdings Ltd and Keppel Corp to buy out its stake in M1 Ltd.
Grab sees strategic partnerships as a key part of its strategy to build new business areas and deepen existing ones.