Metro Pacific says to acquire shares in SPNEC for P2-B

ABS-CBN News

<p>MANILA — Metro Pacific Investment Corp said on Tuesday it would acquire shares in SP New Energy Corp (SPNEC) worth P2 billion.</p><p>In a disclosure to the stock exchange, MPIC said it would acquire a total of 1.6 billion common shares of SPNEC from its parent Solar Philippines Power Project Holdings Inc.</p><p>MPIC will also be given the option to become the single largest shareholder of SPNEC, it said.</p><p>SPNEC develops, owns and operates solar power projects, and is listed in the Philippine Stock Exchange. </p><p>"Our thrust of pursuing renewable energy brings the MVP Group one step closer to fulfilling our mission of creating long-term value for our stakeholders through responsible and sustainable investments," MPIC Chairman and President Manny Pangilinan said. </p><p>Solar Philippines will use the proceeds from the transaction to fund its investments in Nueva Ecija, where the company is developing what could be Asia's largest solar project, MPIC said. </p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/08/09/22/spnec-changes-name-to-sp-new-energy-corp'>From Nueva Ecija to New Energy: SPNEC changes name to reflect wider business</a></li>	<li><a href='https://news.abs-cbn.com/business/12/27/21/solar-philippines-begins-construction-of-nueva-ecija-plant'>Newly listed Solar Philippines begins construction of Nueva Ecija plant</a></li>	<li><a href='https://news.abs-cbn.com/business/02/07/22/spnec-bags-renewable-energy-supply-deal'>Solar Philippines Nueva Ecija Corp inks renewable energy supply deal</a></li></ul><p><strong>RELATED VIDEO</strong></p><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=1832625' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

<p>"Our thrust of pursuing renewable energy brings the MVP Group one step closer to fulfilling our mission of creating long-term value for our stakeholders through responsible and sustainable investments," MPIC Chairman and President Manny Pangilinan said. </p><p>Solar Philippines will use the proceeds from the transaction to fund its investments in Nueva Ecija, where the company is developing what could be Asia's largest solar project, MPIC said. </p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/08/09/22/spnec-changes-name-to-sp-new-energy-corp'>From Nueva Ecija to New Energy: SPNEC changes name to reflect wider business</a></li>	<li><a href='https://news.abs-cbn.com/business/12/27/21/solar-philippines-begins-construction-of-nueva-ecija-plant'>Newly listed Solar Philippines begins construction of Nueva Ecija plant</a></li>	<li><a href='https://news.abs-cbn.com/business/02/07/22/spnec-bags-renewable-energy-supply-deal'>Solar Philippines Nueva Ecija Corp inks renewable energy supply deal</a></li></ul><p><strong>RELATED VIDEO</strong></p><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=1832625' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

<p>MPIC will also be given the option to become the single largest shareholder of SPNEC, it said.</p><p>SPNEC develops, owns and operates solar power projects, and is listed in the Philippine Stock Exchange. </p>

<p>MANILA — Metro Pacific Investment Corp said on Tuesday it would acquire shares in SP New Energy Corp (SPNEC) worth P2 billion.</p><p>In a disclosure to the stock exchange, MPIC said it would acquire a total of 1.6 billion common shares of SPNEC from its parent Solar Philippines Power Project Holdings Inc.</p>

Metro Pacific Investment Corp said on Tuesday it would acquire shares in SP New Energy Corp (SPNEC) worth P2 billion.

Metro Pacific says to acquire shares in SPNEC for P2-B | ABS-CBN News

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Metro Pacific says to acquire shares in SPNEC for P2-B

Metro Pacific says to acquire shares in SPNEC for P2-B