Friday 19 October
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.

Please follow and like us:

Tags: , , , , ,

Related Stories
A consortium led by leading global infrastructure asset mananager Macquarie Infrastructure and Real Assets and
Senator Sherwin Gatchalian is calling for a review on how market share limitation is measured
Lopez-led First Gen Corp. is repurchasing some of the $300-million notes it listed on the
First Gen Corp. has taken in a strategic partner in Energy Development Corp. (EDC) after


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.