Pangilinan-led Metro Pacific Investments Corp. is targeting to acquire up to 43-percent shareholdings in publicly listed SP New Energy Corp. .
The shares will be acquired through Solar Philippines Power Project Holdings Inc. , the parent firm of SPNEC – and both firms were founded by Leviste. In turn, “SPH will advance the proceeds to SPNEC to fund its land investments in Nueva Ecija.” The Pangilinan-led firm noted “this is the first of several agreements through which the MPIC group may acquire up to a total of about 19 billion common shares of SPNEC, subject to approvals.”
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