MPIC raises stake in Meralco

Investment holding company Metro Pacific Investments Corp. (MPIC) on Monday said it has entered a purchase agreement to boost its interest stake in Beacon Electric Asset Holdings by 25 percent for a purchase price of P26.2 billion. This will effectively hike MPIC’s equity stake in Beacon from 50 percent to 75 percent and will decrease PLDT’s share holdings from 50 to 25 percent. Read more here.

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