RENEWABLE energy firm SP New Energy Corp. (SPNEC) on Friday bared additional details with regard to Pangilinan-led Manila Electric Co.'s (Meralco) acquisition of a controlling interest for P7.5 billion.
In response to a query from the Philippine Stock Exchange, SPNEC confirmed that there was an exchangeable note facility and security agreement between MGen Renewable Energy Inc., buyer of the SPNEC shares, and Solar Philippines Power Project Holdings Inc. (Solar Philippines), the seller.
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