Malaysia’s Tenaga Nasional Bhd (TNB) said in a statement to the Kuala Lumpur stock exchange Monday, that it had received offers to buy out its minority interests in two separate independent power producers, following its decision to divest itself of these interests.
Malaysian companies Genting Bhd. and Sime Darby Bhd. confirmed in separate statements their interest in buying TNB’s shares.
Tenaga has a 25 per cent stake in Genting Sanyen Power Sdn. Bhd., which is 39.1 per cent owned by Genting, and 20 per cent in Port Dickson Power Bhd., which is 60 per cent owned by Sime Darby.
TNB said, “This includes offers from existing controlling shareholders such as Sime Darby Bhd. for Port Dickson Power Bhd. shares, and Genting Bhd. for the Genting Sanyen Power Sdn. Bhd. Shares”.
The company said it would be evaluating the bids with the help of its independent adviser and expected to “finalise our action plan within the first quarter of this year”.