Japanese PE investor INCJ mulls stake sale in Axiata tower arm

Japanese PE investor INCJ mulls stake sale in Axiata tower arm

Photo: edotco's Facebook page

Innovation Network Corp. of Japan is considering selling its stake in a Malaysia telecommunications tower company in a deal that could be worth at least $500 million, according to people with knowledge of the matter.

The state-backed private equity firm has hired an adviser to help with the potential stake sale in edotco Group Sdn., said the people, who asked not to be named as the information is private. INCJ bought the shares from Edotco parent company Axiata Group Bhd. for $400 million via a private placement in 2017, according to a press statement on edotco’s website.

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