Meralco pays P7.15B for GBPC stake

By The Manila Times

Oct 23, 2013 8:18 pm

The power generation unit of the country’s largest power distributor, Manila Electric Co. (Meralco), has completed the purchase of a 20-percent stake in Global Business Power Corp. (GBPC) for P7.15 billion.

In separate disclosures, First Metro Investment Corp. and Meralco PowerGen Corp. (MGen) announced that they have signed a shareholders’ agreement to complete the sale of First Metro’s 20-percent stake in GBPC to MGen.

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