Phinma Energy eyes tender offer
Phinma Energy Corp. said Tuesday it will conduct a tender offer to shareholders of Phinma Petroleum and Geothermal Inc. as a part of the sale of its shares to AC Energy Inc., the power unit of the Ayala Group.PPG, formerly Trans-Asia Petroleum Corp., is a wholly-owned subsidiary of Phinma Energy. Phinma Energy currently owns 126,838,679 common shares, representing 50.735 percent of the total issued and outstanding capital stock of PPG. After the transaction, it will own an aggregate of 189,801,107 common shares, representing 75.92 percent of the total issued and outstanding capital stock of the company.
Phinma Energy will be making a voluntary tender offer for the remaining 59,208,851 common shares representing 23.684 percent.“The terms of the tender offer shall be announced separately on the date of the commencement of the tender offer,” it said.
Read More At: http://manilastandard.net/business/power-technology/294739/phinma-energy-eyes-tender-offer.html
PCC approves Ayala’s acquisition for P3 billion of PHINMA energy assets
The final go-signal has been bestowed by the Philippine Competition Commission (PCC) on the acquisition by AC Energy Inc. of the energy assets of PHINMA group of the Del Rosarios. Read More
PCC approves Ayala-PHINMA energy deal
MANILA — The Philippine Competition Commission (PCC) has approved the acquisition of the majority stake in PHINMA Energy by Ayala Corporation’s power branch, AC Energy. In its decision dated April 11, Read More
PCC clears AC Energy purchase of Phinma power business
MANILA, Philippines — AC Energy Inc., the energy platform of Ayala Corp., has clinched the approval of the Philippine Competition Commission (PCC) to acquire the power business of the Phinma Read More