KKR buys 11.9% stake in PH-listed power developer First Gen for $192m

KKR buys 11.9% stake in PH-listed power developer First Gen for $192m

REUTERS/Brendan McDermid

Private equity giant KKR & Co has agreed to acquire about 11.9 per cent in listed Philippines power developer First Gen Corp for $192.2 million, according to its announcement Monday.

The acquisition, which involves 427 million common shares of First Gen, will be carried out by Singapore-based Valorous Asia Holdings, a wholly-owned subsidiary of KKR.

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