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Jan 9, 2018 @ 16:39

Aboitiz Group consolidates holdings in 2 Bataan plants


Therma Power Inc., a wholly-owned subsidiary of Aboitiz Power Corp., is streamlining its share ownership structure in GNPower Mariveles Coal Plant Ltd. and GNPower Dinginin Ltd.

The restructuring involves the transfer of direct ownership of GNPower-Mariveles and GNPower-Dinginin from the offshore subsidiaries of TPI to TPI and the eventual dissolution and liquidation of the offshore intermediary subsidiaries that own the GNPower-Mariveles and GNPower-Dinginin shares.

As a result TPI will directly own 66.01 percent partnership interest in GNPower-Mariveles and 50 percent partnership interest in GNPower-Dinginin.

Aboitiz Power has investments in various thermal and renewable power generating facilities.

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