Abu Dhabi firms to pay US$1.8 billion to 1MDB, MOF Inc to settle dispute

ABU Dhabi’s state-owned International Petroleum Investment Company (IPIC) and Aabar Investments PJS (Aabar) will pay US$1.8 billion (RM8.06 billion) to 1Malaysia Development Bhd (1MDB) and Ministry of Finance Inc to settle a legal dispute, the Finance Ministry announced today.

This is in pursuant to a settlement of a legal proceedings in the London Court of International Arbitration and the London High Court.