METRO Pacific Investments Corp. (MPIC) has agreed to invest P2 billion to acquire 1.6 billion common shares or a 16-percent stake in SP New Energy Corp. (SPNEC) from Solar Philippines Power Project Holdings Inc. (SPH).
This will be the first of several agreements through which the conglomerate may acquire up to a total of about 19 billion common shares of SP New Energy with the goal of making MPIC the largest renewable energy company in the Philippines.
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