Malaysia says Abu Dhabi's IPIC and Aabar PJS to pay $1.8 billion to settle 1MDB dispute

KUALA LUMPUR : Malaysia's finance ministry said on Monday Abu Dhabi's International Petroleum Investment Co (IPIC) and Aabar Investments PJS have agreed to pay $1.8 billion to settle a legal dispute over the multi-billion dollar 1MDB scandal.

The ministry said in a statement the Abu Dhabi companies, 1MDB and Malaysia's Minister of Finance (Incorporated) had reached a settlement in respect of the legal proceedings in the London Court of International Arbitration and the London High Court.