Amid its plan to further expand in Mindanao, the Alcantara Group has bought out the stake of Thailand’s first independent power producer Electricity Generating Public Co. Ltd. (EGCO) in power holding company Conal Holdings Corp. (CHC).

Alsons Consolidated Resources Inc. (ACR), the publicly listed company of the Alcantara Group, and EGCO International (B.V.I) Ltd., the wholly owned subsidiary of EGCO, have both agreed on ACR’s planned acquisition of EGCO B.V.I’s 40-percent equity stake in CHC.