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​San Miguel buys Philippine coal power plant for $1.9 billion, subject to regulatory approval

( December 19, 2017, 02:53 GMT | Official Statement) -- MLex Summary: SMC Global Power Holdings, the power unit of Philippine conglomerate San Miguel Corporation, has won the bid to acquire the Philippine assets of NYSE-listed AES Corp., including its 51 percent interest in a coal power facility in Masinloc, Zambales, for $1.05 billion. SMC Global Power is also purchasing the remaining 49 percent equity interest in the power facility held by Thailand-based Electricity Generating Public Company for $850 million. The transaction, which is subject to approval by the Philippine Competition Commission, is one of the largest deals in the country’s corporate history.AES' statement follows, and Electricity Generating Public Company's statement is attached....

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