GIP’s acquisition of Malaysia’s biggest port operator falls through

GIP’s Malaysian acquisition plans tank: US-based investment firm Global InfrastructurePartners (GIP) has scrapped plans to acquire a 49% stake in Malaysia's largest port operator MMC Port Holdings after failing to reach an agreement on the price for the stake, Bloomberg reports, citing sources with knowledge of the matter. The outfit’s owner, Syed Mokhtar Al Bukhary, was eyeing a USD 3.2 bn to USD 4.2 bn valuation for the firm, which would have represented Malaysia’s largest ever port sale to date, Bloomberg writes.