MANILA — Metro Pacific Investment Corp said on Tuesday it would acquire shares in SP New Energy Corp (SPNEC) worth P2 billion. In a disclosure to the stock exchange, MPIC said it would acquire a total of 1.6 billion common shares of SPNEC from its parent Solar Philippines Power
MANILA, March 28 (Reuters) – Philippine infrastructure conglomerate Metro Pacific Investments Corp on Tuesday said it signed a deal to acquire a minority stake in renewable energy firm SP New Energy Corp for 2 billion pesos ($36.8 million). Metro Pacific, a unit of Hong Kong’s First Pacific Co Ltd,
MANILA, Philippines — Solar Philippines and Razon-led Prime Infra have agreed to advance their partnerships covering several solar projects. In a disclosure last Friday, SP Energy said its board approved the planned memorandum of agreement (MOA) between Solar Philippines and Prime Infra. Source: Philstar
Solar Philippines Power Project Holdings Inc. said it will be taking up whatever shares out of the P2.7 billion stock rights offer (SRO) of its listed unit SP New Energy Corp. were not completely paid by March. “Based on indications of interest for SPNEC’s shares, the company believes that the
SOLAR Philippines Power Project Holdings Inc. is opening up its listed unit SP New Energy Corp. to more strategic partnerships with groups, which could be worth about P2.7 billion in private placements and asset-for-share swaps. The company said in its disclosure that its deal last week with ACEN Corp., the
MANILA, Philippines — SP New Energy Corp. (SPNEC) plans to undertake more private placements. “We are open to further broadening SPNEC’s shareholder base, to build a more widely-held company and accelerate the development of solar in the Philippines,” said Solar Philippines founder Leandro Leviste. Source: PhilStar
According to ACEN President and CEO John Eric T. Francia, the shares to be acquired will account for 5.0-percent equity of the company, as reckoned prior to SPNEC’s infusion of assets. Based on the omnibus loan and security agreement (OLSA) inked by the parties, the repayment of the loan had