Philippines: Ayala exits hydro-power business
Conglomerate Ayala Corp. has unloaded its controlling interest in three
hydro-power generation plants as a strategy to focus on energy projects with
critical mass.
The group's power generation arm AC Energy Holdings Inc. signed definitive
documents to sell all of its ownership stake in each of QuadRiver Energy
Corp., Philnew Hydro Power Corp. and PhilnewRiver Corp. to Sta. Clara Group
Inc., Ayala disclosed to the Philippine Stock Exchange on Tuesday.
Prior to this sale, AC Energy held 70 percent of the outstanding capital
stock of each of the hydro companies while Sta. Clara Power held the
remaining 30 percent.
The hydro companies are grantees of several hydropower service contracts
from the Department of Energy.
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Link to Original Article:
https://business.inquirer.net/222409/ayala-exits-hydro-power-business
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John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
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