The Details of the Sale:
The Government of Malaysia is pleased to announce that the Superyacht ‘Equanimity’ is to be sold to Genting Malaysia Bhd or its special purpose vehicle (SPV) company at the price of USD 126 million. The Admiralty Court in Kuala Lumpur today approved for acceptance, the offer by Genting to purchase the Equanimity on the Sheriff’s Terms and Conditions.
The USD 126 million purchase price will be paid by Genting, and received by Court, by the end of April 2019. This will rank as the highest recovery to date for the Government of Malaysia from the 1MDB scandal; within a mere 8 months from the commencement of this action.
This USD 126 million is the best offer received over the 5 months, from October 2018, when the Equanimity was first put up for sale. Many offers were received in this period and a few were over USD 100 million It was Genting however, that offered the highest price, that was today approved by Court for acceptance. As the Genting offer was negotiated directly with the Government of Malaysia, no agency commission is payable, resulting in a savings of about USD 4.4 million.
Footnote:
Contact Seal Superyachts Malaysia for detailed information about cruising around Malaysia, superyacht charter regulations and about how we can support your visit.
Principle agent Shah Nizar is proud to have worked with many of the World’s largest Superyachts and has extensive knowledge of Malaysia and the surrounding area.
Shah Nizar
Phone: +60 16 378 6313
Email: malaysia@seal-superyachts.com