PetroEnergy sells 25% stake in unit to KIC

By Eireene Jairee Gomez

Sep 16, 2022 12:14 am

PETROENERGY Resources Corp. (PERC) has approved to sell 25-percent equity in PetroGreen Energy Corp. to Kyuden International Corp.

In a disclosure to the Philippine Stock Exchange on Thursday, PERC said its board approved in a meeting on September 15 the signing of a share subscription agreement and shareholders' agreement with Kyuden International Corp. (KIC), a wholly-owned subsidiary of Japan's Kyushu Electric Power Co. Inc.

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