Ayala’s power unit 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.
By Tomas S. Noda III
Called Sidrap Project, it is the first utility-scale wind farm project in Indonesia targeted to have a generating capacity of 75 MW and is expected to be completed before 2017 ends.
The acquisition is seen as a major milestone for AC Energy as it scales up its renewable energy platform and establishes its presence in Indonesia.
AC Energy through its wholly owned subsidiary Presage Corp, acquired an additional 17.79 per cent stake in NorthWind, increasing its effective ownership interest from 50 per cent to 67.79 per cent.
Ayala Corp is divesting all of its shares in Vietnam-based Vinaphil Technical Infrastructure Investment JSC, while DoubleDragon Properties Corp aims to raise up to $312 million in a latest bonds offer.
BPI disclosed all the conditions involving the transactions with its parent firm Ayala Corp and the conglomerate’s mobile carrier subsidiary Globe Telecom Inc have been completed on Tuesday.
A unit of Philippine conglomerate Ayala Corp has sold all of its interest in Integreon Inc, a British Virgin Island (BVI) legal solutions company, which was later acquired by Hong-Kong based private equity firm NewQuest Capital Partners (NewQuest)
PH Digest: Ayala mergers investment, accounting firms; Aboitiz pumps $100m in residential biz; PLDT to divest Meralco stakes
Having made multi-million dollar investments in private high-technology companies, Philippine-based venture management and advisory group Narra Venture Capital is now more fixated in enabling business growth.