Metro Pacific Investments Corp. is increasing its stake in renewable company SP New Energy Corp. to 43 percent for P24 billion.
SPNEC said in a stock exchange filing Monday its board approved an option agreement that would allow MPIC to acquire another 17.4 billion SPNEC shares including 10 billion primary shares for P12.5 billion and 7.4 billion secondary shares for P9.25 billion.
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