MANILA Electric Co., (Meralco) Aboitiz Power Corp, (AboitizPower) and San Miguel Corp. (SMC) on Tuesday announced the financial close of a $3.3-billion partnership to operate a Batangas-based liquefied natural gas (LNG) terminal.
The parties to the transaction were subsidiaries Meralco PowerGen Corp. (MGen), AboitizPower's Therma Natgas Power Inc. (Therma), and SMC's San Miguel Global Power Holdings Corp. (SMGP).
