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Meralco unit takes over biggest solar farm in Phl
The Philippine Star
|December 28, 2023
MVP completes P15.9-B acquisition of SPNEC shares
Business tycoon Manuel V. Pangilinan has completed his acquisition of SP New Energy Corp. (SPNEC) and is now set to take the helm of the solar energy company founded by Leandro Leviste.
In a disclosure to the Philippine Stock Exchange (PSE) yesterday, SPNEC said MGen Renewable Energy (MGreen), a unit of Pangilinan-led Meralco, has completed its P15.9-billion investment in the company.
MGreen has paid the balance of P8.9 billion following an initial payment of P7 billion, completing its acquisition of SPNEC with 15.7 billion common shares and 19.4 billion preferred shares. This translates to MGreen having a total voting interest in SPNEC of 50.5 percent.
As a result, SPNEC elected Pangilinan as its chairman, president and CEO with Leviste as vice chairman.
Bu hikaye The Philippine Star dergisinin December 28, 2023 baskısından alınmıştır.
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