Raslag, Singapore partner near close on Philippine wind JV

RENEWABLE ENERGY developer Raslag Corp.and Singapore-based Verdant Philippines Alpha Pte. Ltd. are poised to finalize a joint venture (JV) to acquire a controlling stake in PHESI Holdings Corp. , following approval from the Philippine Competition Commission (PCC)."Raslag and Verdant can finally close the deal, so we are working on closing hopefully within the year," Raslag President Robert Gerard B. Nepomuceno said in a Viber message on Wednesday.

- By Sheldeen Joy Talavera Reporter

The PCC cleared the proposed acquisition last month, citing no competition concerns due to the lack of horizontal overlaps or vertical relationships among the partners and the acquired entity.

The regulator noted that "the presence of larger competitors and a fragmented supply landscape serve as sufficient competitive constraints on the parties' operations post-transaction."