Asiapak Investments, Ltd. acquired 100% stake in Tnb Liberty Power Limited from Tenaga Nasional Berhad (KLSE:TENAGA) for $54.5 million on November 30, 2021. The total Divestment consideration has been received by TNB as of 29 November 2021. The estimated gain on the Divestment as at Q3 2021 based on the total Divestment consideration above is around $5.3 million. Following the divestment of TNB’s compulsorily convertible debentures in India as per the announcement made on 24 August 2021, this Divestment marks another significant step in TNB’s strategy to streamline its international portfolio by prioritising growth of renewable energy in TNB’s focus markets, mainly in the UK, Europe and Southeast Asia. Furthermore, the Divestment is consistent with TNB’s initiatives to seek monetisation options for its assets in non-focus markets. Asiapak Investments, Ltd. completed the acquisition of a 100% stake in Tnb Liberty Power Limited from Tenaga Nasional Berhad (KLSE:TENAGA) on November 30, 2021. Irina Akentjeva and Glynn Cooper of Herbert Smith LLP, Singapore acted as legal advisor to Tenaga Nasional Berhad.