By Mars Woo
Manila Water’s acquisition in Indonesia comes after its foray into bulk water and concession projects in Thailand and Vietnam.
The company intends to sell 679.2 million shares, or about 20% of its total issued shares.
Cerebro Labs was founded by professionals with backgrounds in law, accounting, and engineering.
Landbank’s board had approved during its meeting on February 27 the plan to acquire the stake at P360 ($6.9) per share.
Tokyo Gas and the Philippines’ First Gen Corp , along with two other foreign companies, are looking to invest in the project.
The venture has challenged a $6.7 billion bid from a group that includes billionaires John Gokongwei and Lucio Tan.
SM acquired the prime seafront property from UK-based investment fund Ashmore.
Now Corp and Philippine Telegraph and Telephone Corp, have publicly said they are planning to bid.
The Philippine Competition Commission (PCC) approves SMC’s acquisition of the 630-megawatt Masinloc coal power plant in Zambales.
The company has already raised over $460,000 previously from 500 Startups, JFDI, and Manila Angel Investors Network.