Saturday 18 November
Powered by Ajaxy
Oct 2, 2017 @ 21:00

First Gen, Philippine Renewable Energy agree on management of EDC

 

Red Vulcan Holdings Corp., a wholly-owned subsidiary of First Gen Corp., has signed a shareholders’ agreement with Philippines Renewable Energy Holdings Corp. to set out the management of EDC.

In August, PREHC made a tender offer to major shareholders of EDC to purchase up to 8.89 million common shares of stock.

Red Vulcan did not participate in the tender offer process in order to retain its common and voting preferred shares which correspond to a 60 percent voting stake in EDC.

Meanwhile, First Gen and subsidiary Northern Terracotta Power Corp. Tendered their 992 million and 986 million shares, respectively.

Tags: , , , , ,

Related Stories
A consortium led by leading global infrastructure asset mananager Macquarie Infrastructure and Real Assets and
First Gen Corp. has taken in a strategic partner in Energy Development Corp. (EDC) after
First Gen Corp. of the Lopez Group is studying the potential of investing in bespoke
The recurring income of First Gen Corp. slipped four percent from $87 million to $84


 

Trending News

Recommended on sister sites

Copyright © 2017 Bilyonaryo - bilyonaryo.com.ph.