Ananda Krishnan, ranked by Forbes as Malaysia's second-richest man, has put his entire power portfolio up for sale in a deal that could fetch more than $2 billion, three sources familiar with the matter told Reuters on Wednesday.
Standard Chartered Plc has been hired to run the sale of stakes in about a dozen power plants in Egypt, Malaysia, the Middle East and South Asia, with a net generating capacity of nearly 4,000 megawatts (MW), the sources said. If the sale fetches more than $2 billion, it would be the biggest power deal in Southeast Asia since 2008, when Temasek Holdings sold its Singapore generation company PowerSeraya to Malaysia's YTL Power International Bhd for S$3.8 billion ($3.03 billion).