KUALA LUMPUR: Minister of Finance (Incorporated) (MoF Inc) and 1Malaysia Development Bhd (1MDB) have reached a settlement regarding their dispute with International Petroleum Investment Company (IPIC) and Aabar Investments PJS (Aabar PJS) in respect of the legal proceedings in the London Court of International Arbitration and the London High Court.
In this respect, Abu Dhabi state-owned IPIC and Aabar PJS have agreed to pay US$1.8 billion (about RM8.06 billion) to MoF Inc and 1MDB, the Finance Ministry (MoF) said in a statement today.
“With this settlement, Malaysia and Abu Dhabi look forward to continue working together for the prosperity and economic benefit of both countries in the future,” it added. - Bernama
