Philippines: Antitrust body approves San Miguel's $1.9b power plant acquisition

Philippines: Antitrust body approves San Miguel's $1.9b power plant acquisition

The Masinloc coal power facility in Zambales. Photo from AES Philippines' website

Philippine-listed conglomerate San Miguel Corporation (SMC) has received approval from the country’s antitrust body to acquire the Masinloc power plant from several companies for $1.9 billion.

In a disclosure to the Philippine Stock Exchange on Tuesday, SMC said, it received approval from the Philippine Competition Commission (PCC) to acquire the 630-MW Masinloc coal power plant in the province of Zambales.

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