MANILA, Philippines — Metro Pacific Investments Corp. (MPIC), the tollways and infrastructure conglomerate led by Manuel V. Pangilinan, is acquiring up to 43 percent of SP Energy Corp. (SPNEC) for P24 billion.
MPIC, Solar Philippines Power Project Holdings Inc. (SPPPHI) and SPNEC, have signed definitive agreements granting MPIC or its affiliates the option to invest up to a total of P24 billion for 19 billion shares in SPNEC, which will make MPIC the largest shareholder in the solar company with a 43 percent stake.
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