FinanceAsia.com, 5 Dec 2008, Sameera Anand
Temasek's overnight sale of PowerSeraya to Malaysia's YTL Power for $2.5 billion contributes to making Southeast Asia a leading market for M&A deals this year.
In a surprising about-face, Temasek announced late Tuesday that it had sold its third Singapore generating company, PowerSeraya, to Malaysia’s YTL Power for S$3.8 billion ($2.5 billion). The deal further reinforced that Southeast Asia is yielding large M&A revenues to investment banks.
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