KUALA LUMPUR – Plans for Boustead Holdings Bhd to sell its majority stake in University of Nottingham Malaysia Sdn Bhd are in the works, Bloomberg reported today.
The education institution could be valued at around RM500 million.
Quoting sources, YTL Corp, which also holds a stake in the university, could also follow Boustead’s exit.
It was reported that Boustead owns about 66% of the university while YTL has 4% and the university 30%, according to sources quoted in the report.
The partnership was formalised in 1998 after the Education Ministry extended an invitation to establish an overseas campus.
University of Nottingham Malaysia sits on a 50ha site in Semenyih and has about 5,000 students from more than 85 countries.
The Edge reported that discussions are in the early stages and there is no confirmation that the deal will go through. – The Vibes, December 9, 2020
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