Malaysian coalition leader promises probe into Battersea Power Station deal

Battersea Power Station

Two Malaysian state-backed funds could see their deal to acquire phase two of Battersea Power Station “renegotiated” after the leader of the country’s newly elected coalition pledged to investigate a series of deals by sovereign funds, including the Battersea acquisition.

Asset management group Permodalan Nasional Berhad (PNB) and pension fund Employees Provident Fund (EPF) signed heads of terms for a deal that values the development at an estimated £1.6bn in May.

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