Philippines' Metro Pacific to acquire $36 mln stake in renewable energy firm

First Pacific

28/03/2023 02:03

MANILA, March 28 (Reuters) - Philippine infrastructure
conglomerate Metro Pacific Investments Corp  MPI.PS  on Tuesday
said it signed a deal to acquire a minority stake in renewable
energy firm SP New Energy Corp  SPNEC.PS  for 2 billion pesos
($36.8 million).
    Metro Pacific, a unit of Hong Kong's First Pacific Co Ltd,
was given the option to become the single largest shareholder of
SPNEC, the company said in a disclosure.
($1 = 54.30 Philippine pesos)

 (Reporting by Neil Jerome Morales
Editing by Ed Davies)
 ((neiljerome.morales@thomsonreuters.com; +632 8841 8914;))