Herbert Smith Freehills and Malaysian law firm Skrine have advised China General Nuclear on its $2.3 billion acquisition of Malaysian state fund 1MDB’s energy business, with Rahmat Lim & Partners representing the seller.

As per the deal CGN will also assume all the debt of 1MDB's power unit, Edra Global Energy Bhd, which would substantially reduce 1MDB's $11 billion debt. Edra’s assets include 13 power plants in Malaysia, Bangladesh, Egypt, Pakistan and UAE.

Norton Rose Fulbright and Malaysian firm Deol & Gill are advising Edra Energy Global.

Herbert Smith Freehills’ team was led by partner David Clinch, and including Singapore partners Brian Scott, Adrian Cheng, Philip Lee and Alastair Henderson along with Hong Kong partners Mark Jephcott, Matt Emsley and Victor Ding, and Monica Sun in Beijing

The deal comes at a time when 1MDB faces an international probe into graft allegations and amidst calls for ouster of Prime Minister Najib Razak who chairs 1MDB's advisory board.

In November, CGN invested $9 billion to build a nuclear power station in UK.