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Business deals

Malaysia state fund to sell $2bn stake in IHH Healthcare to Mitsui

Divestment by Khazanah Nasional signals looser government grip on big companies

IHH Healthcare operates 49 hospitals in Asia, including the Mount Elizabeth Novena Hospital in Singapore, pictured here. (Photo by Kentaro Iwamoto)

KUALA LUMPUR -- Malaysian sovereign wealth fund Khazanah Nasional agreed on Thursday to sell a slice of its controlling stake in IHH Healthcare, the largest hospital operator in Asia, to Japan's Mitsui & Co for 8.42 billion ringgit ($2 billion).

The deal is part of Prime Minister Mahathir Mohamad's drive to ease the government's grip over big companies in Malaysia.

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