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Business

Genting Malaysia, parent to sell stake in Hong Kong unit for $420.8 million

KUALA LUMPUR (NewsRise) - Malaysia's gaming giant Genting and its unit Genting Malaysia will sell their combined 17% stake in cruise ship operator Genting Hong Kong for a total $420.8 million to Golden Hope Limited.

The related-party transaction will allow Genting and Genting Malaysia to dispose their investments in the barely-traded Genting Hong Kong that fetched little returns for nearly two decades, analysts said.

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