Malakoff acquisition of Sime Darby's Malaysian power business

Overview:

• Malakoff Corporation—Malaysia's largest independent power producer—has acquired Sime Darby's Malaysian power business. 
• Malakoff, through its wholly owned subsidiary, Hypergantic, will purchase 75% equity interest in Port Dickson Power, which it does not already own, from Sime Darby Energy.
• Simultaneously, Malakoff Power, a subsidiary of Malakoff that is principally involved in the operations and maintenance of power plants, will acquire the operations and maintenance business relating to PDP’s power plant by purchasing the entire issued and paid-up share capital of Sime Darby Biofuels.
• PDP is a 440MW gas-fired open cycle power plant located on a 67-acre site in Tanjung Gemuk, Port Dickson, Negeri Sembilan, and is a licensed IPP that operates under a ‘build, own and operate’ basis.
• Wong & Partners, a member firm of Baker & McKenzie International in Malaysia, advised Malakoff Corporation.
• Christopher & Lee Ong advised Sime Darby.