News: EPF refutes involvement on Battersea bid
Datuk Shahril Ridza Ridzuan, the Deputy CEO of the Employees Provident Fund (EPF) has refuted a report, which stated that the fund is bidding for the 15.78-ha Battersea power station in London.
The erroneous report said that the EPF is poised to outbid London-based football club Chelsea FC with an offer worth £375 million (RM1.84 billion) for the Battersea power station. It also said that the fund is in late-stage negotiations with Knight Frank and Ernst & Young, the firms running the sale.
"We are not bidding for it. The report is wrong. All I can say is that we have been approached by companies who are bidding for it to be their financial partner," said Shahril without disclosing the names of the companies.
He added that the EPF is seeking properties in London but not the Battersea power station.
The properties include a distribution centre owned by British supermarket chain Sainsbury, which is being acquired for RM400 million and two other properties with a combined value of RM1.5 billion. Moreover, these acquisitions are part of the fund's plan to invest up to RM5 billion in London.
Meanwhile, Malaysia's biggest listed developer by revenue SP Setia has announced that it is going to make a fresh bid for the Battersea power station after its redevelopment plans were rejected in 2011.
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