THE board of listed firm Solar Philippines Nueva Ecija Corp. (SPNEC) has approved an asset-for-share swap involving the acquisition of Solar Philippines Power Project Holdings Inc. and 20 other units of the company’s parent firm Solar Philippines Inc.
Solar Philippines Inc. assets would be acquired through an asset-for-share swap in exchange for 24.37 billion shares of SPNEC at an issue price of P2.50 per share.
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