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Meralco’s MGen to acquire majority stake in SPNEC for Php15.9 billion

Meralco is poised to become the majority owner of SP New Energy Corp. (SPNEC). MGen Renewable Energy Inc. (MGreen), a subsidiary of the company’s power generation arm Meralco Powergen. Corp (MGen), will invest Php15.9 billion in SPNEC, comprising 15.7 billion common shares plus 19.4 billion redeemable preferred voting shares. This gives MGreen a 50.5-percent voting […]