Negros Island Biomass Holdings Inc. (NIBH), a joint venture development holding company between AC Energy and the Zabaleta group, has signed binding agreements to divest its shareholdings in three biomass-fired power plants in the Visayas.
In a disclosure to the Philippine Stock Exchange on Friday, AC Energy said NIBH will sell its equity stake to its partner, the Singapore-based ThomasLloyd CTI Asia Holdings Pte Ltd.
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