KUALA LUMPUR (Nov 29): Malaysia's Khazanah Nasional is selling a 16% stake in Singapore-listed IHH Healthcare to Mitsui & Co for about RM8.42 billion ($2.76 billion) in cash, kicking off a restructuring of the sovereign wealth fund's portfolio under a new government.

See also: IHH Healthcare reverses into the red in 3Q on forex losses

In separate statements on Thursday, Khazanah and Mitsui said the Japanese firm is paying that amount to raise its stake in IHH to 32.9% and become the biggest shareholder of one of Asia's largest private hospital groups. Khazanah's stake will be cut to about 26%.

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