An affiliate of AC Energy Inc. has surrendered its share in Infigen Energy Ltd. after scrambling to secure a “material stake” in the Australian renewable-energy compnay, parent firm Ayala Corp. announced on Thursday.
In a disclosure, the listed conglomerate said UAC Energy Holdings Pty. Ltd. — the investment holding company owned by AC Energy and the UPC Renewables Group — had divested its 20-percent stake in Infigen to Spain’s Iberdrola Group. It is priced at 92 Australian cents per stapled security.
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