Singapore's GIC to pick up 17.5% stake in AC Energy Philippines for $412m

Singapore's GIC to pick up 17.5% stake in AC Energy Philippines for $412m

Wind turbine. Photo: Pixabay

Singapore’s sovereign wealth fund GIC will be investing 20 billion peso ($412.5 million) into AC Energy Philippines (ACEN), a subsidiary of Ayala Corporation’s energy platform AC Energy Inc, in exchange for a 17.5 per cent stake.

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