Sunday 16 December
Sep 24, 2018 @ 20:02

Aboitiz Group said to be in advanced talks over Ayalas’ thermal assets

 

The Cebu-bassed Aboitiz clan is reportedly close to sealing a deal to purchase the thermal power assets of conglomerate Ayala Corp.

Neotiations between the two corporate giants have eached advanced stage and that a deal may be signed in the coming weeks, according to Bloomberg.

Nothing, however, is definite yet and that talks could still hit a snag, Bloomberg said.

The Ayala Group’s power arm AC Energy Inc. Earlier said it could unload as much as half of its thermal power business to partly fund its expansion in Southeast Asia.

Its thermal assets include the 632-megawatt GNPower Mariveles coal plant, a joint veture with Aboitiz Power Corp. unit Therma Power and Power Partners, and the 552-MW GNPower Kauswagan

Earlier reports valued AC Energy’s assets at P135 billion.

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