Sunway Berhad to acquire IJM Corporation Berhad for $2.7bn.

Sunway Berhad, a Malaysian conglomerate, agreed to acquire IJM Corporation Berhad, a Malaysian company specializing in construction, property, and infrastructure, for $2.7bn. The successful completion of the acquisition will establish an enlarged conglomerate involved in property development and construction in Malaysia which, based on revenue and asset base, would create a national champion, endowed with the scale, scope and network necessary to compete regionally. Sunway will be able to consolidate the financial performance of the IJM Group and also expand the business activities of Sunway and its subsidiaries.