SINGAPORE : Asia-focused telecoms tower firm Edotco Group, its Malaysian parent Axiata and a Japanese backer are in talks with investors for stake sales, in a deal that could raise about $1.2 billion, four sources familiar with the matter said.
Two of the sources said cash-rich infrastructure funds such as U.S.-based Stonepeak and Global Infrastructure Partners, and a group led by Japanese trading firm Mitsui & Co, are among potential buyers for the stake sales. The sources said the bulk of the proceeds from the share sales will likely fund Edotco's business expansion.
Edotco also counts Malaysian sovereign wealth fund Khazanah Nasional and pension fund KWAP among its investors.
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