MPIC acquires 56% stake in Global Power

Metro Pacific Investments Corp. (MPIC) will acquire a 56 percent stake in tycoon George Ty’s power generation arm Global Business Power Corp. for P22.06 billion as part of the strategic alliance formed by the Pangilinan-led group and the Ty family. Global Power is the leading power supplier in Visayas with an aggregate 852 megawatts of coal and diesel powered generating capacity (including 150 MW to commence operations later this year). Read more here.

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