THE Maharlika Investment Fund has secured a "foothold" in National Grid Corp. of the Philippines (NGCP), Malacañang announced on Monday, via a deal that will give it two board seats in the privately-owned firm that runs the country's power network.
State-owned Maharlika Investment Corp. (MIC), which manages the sovereign wealth fund, will be buying a 20-percent stake in holding firm Synergy Synergy Grid and Development Philippines Inc. (SGP), which has a 40.2-percent stake in NGCP.
