PLDT Inc. said on Wednesday its subsidiary PLDT Communications and Energy Ventures (PCEV) has entered into a share purchase agreement with Metro Pacific Investments Corp. (MPIC) for the sale of PCEV’s remaining stake in Beacon Electric Asset Holdings, Inc.

In a disclosure to the Philippine Stock Exchange (PSE), PCEV said it has sold its remaining 25 percent stake in Beacon for a total consideration of P21.8 billion, which makes MPIC the sole owner of Beacon upon completion of the sale.