Tanjong to Buy Globeleq for $493 Million to Gain Power Generation Assets

(Bloomberg) -- Tanjong Plc, a Malaysian power
generation and betting group, agreed to buy Globeleq Ltd. for
$493 million, gaining generation plants in Egypt, Bangladesh,
Pakistan and Sri Lanka.

Tanjong will purchase Globeleq from CDC Globeleq Holdings
Ltd. in cash, the Kuala Lumpur-based company said in a statement
today. Tanjong shares were halted for the announcement.


Read more at Bloomberg Emerging Markets News