By Mars Woo
Del Monte Pacific earlier said it intends to use the proceeds from the offering to partially prepay or repay certain loan facilities.
Pacquiao will help Revolution Precrafted design affordable homes and sports-inspired residential developments.
Ayala Corporation will own 50 per cent of UPC Renewables Australia through its wholly owned subsidiary AC Energy.
The deal marks Revolution Precrafted’s expansion into its ninth international market.
AC Energy’s assets are 80% thermal and 20% renewable, with a total value of 135 billion pesos ($2.6 billion), according to a recent CLSA report.
Regulators in Southeast Asian countries have issued permits to new ride-hailing companies to compete with market leader Grab.
Japanese companies Mitsubishi, Mitsui and Mitsubishi are participating in separate real estate development in the Philippines and Malaysia.
The company said the deal is expected to raise at least $125 million in revenues and put the spotlight on a prime property once dubbed as “Asia’s Paradise Resort”.
The approval comes after both parties paid a fine for consummating the deal without clearance from the antitrust commission.
Mayweather has partnered with U-Hop through his company The Money Team (TMT), which has made its first Southeast Asia investment.