Malaysian funds agree heads of terms to acquire phase two of Battersea Power Station

Battersea Power Station

Two Malaysian state-backed funds have agreed heads of terms to acquire phase two of Battersea Power Station in a deal that values the development at an estimated £1.6bn.

Asset management group Permodalan Nasional Berhad (PNB) and pension fund Employees Provident Fund (EPF) of Malaysia are poised to acquire the building from the Battersea Phase 2 Holdco set up by Malaysian developers Sime Darby Property and SP Setia, in a deal that would eclipse last year’s £1.28bn purchase of the Walkie-Talkie.

This is premium content

You must be logged in to view premium stories.

Gated access promo

Subscribe for full access

Take out a print and online or online only subscription and you will get immediate access to:

  • Breaking industry news as it happens
  • Expert analysis and comment from industry leaders
  • Unlimited access to all stories, including premium content
  • Full access to all our online archive

To get access to premium content subscribe today

Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts

If you are already a registered user or a subscriber you can SIGN IN now