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.

Please follow and like us:

Tags: , , ,

Related Stories
Conglomerate Ayala Corp. raised around P8.07 billion from a private placement of shares.
Conglomerate Ayala Corp. is returning to the dollar bond market after a 14-year hiatus with
Conglomerate Ayala Corp. plans to roll out 14 more clinics this year to expand its
Therma Power Visayas Inc., a subsidiary of Aboitiz Power Corp., has assumed control of the


Trending News

Recommended on sister sites

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