Malaysian tycoon weighs selling a stake in $2.7-B port business -sources

SINGAPORE – Malaysian tycoon Syed Mokhtar Al-Bukhary is looking at bringing in an investor into MMC Port Holdings – a deal that could value the country’s biggest port operator at more than 12 billion ringgit ($2.7 billion), two people with knowledge of the matter said.

His conglomerate MMC Corp may sell a stake of up to 30 percent in MMC Ports, said one of the people, adding that financial investors and companies have approached MMC Corp about their interest in the ports business.

A sale could be a precursor to a potential MMC Ports listing on the Malaysian stock exchange in a few years, said the sources.

Deliberations were ongoing and no decisions have been made, they added, de…

Keep on reading: Malaysian tycoon weighs selling a stake in $2.7-B port business -sources