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Megawide gets 9.88% of CREC
Manila Bulletin
|October 18, 2025
Saavedra-led infrastructure and engineering firm Megawide Construction Corp. has completed its acquisition of 9.88 percent of affiliate Citicore Renewable Energy Corp. (CREC), effectively gaining a new revenue source from solar power.
In a disclosure to the Philippine Stock Exchange, Megawide said it has successfully executed a block sale with CREC’s parent company, Citicore Power, Inc. (CPI), for 1.1 billion CREC shares owned by CPI.
“The transaction signifies the strong intra-company cooperation within the bigger Megawide-Citicore Group to achieve a shared objective — that is to create and maximize shareholder value,” said Megawide Chairman and CEO Edgar Saavedra.
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