By Mars Woo
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.
The investment will give JFC a substantial ownership in Tim Ho Wan Pte Ltd, the Asia Pacific master franchise holder of the Tim Ho Wan brand.
Manila-based Edukasyon has raised an undisclosed amount in a funding round backed by KSR Ventures and French Partners, ahead of its planned Series A in the fourth quarter of this year.
Grab now controls more than 90% of the ride-hailing market in the Philippines but struggles to keep up with demand.