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Unit of AboitizPower to acquire Sithe Global's stake in Bataan power plants

( October 4, 2016, 03:19 GMT | Official Statement) -- MLex Summary: Aboitiz Power Corporation’s wholly-owned subsidiary, Therma Power, Inc., has agreed to acquire the partnership interests held by affiliated investment funds of The Blackstone Group in World Power Holdings and Sithe Global Power for $1.2 billion. The acquisition will result in TPI ultimately acquiring beneficial ownership interests in two coal-fired power plants in Mariveles, Bataan, in the Philippines. The deal is subject to approvals from the Philippine Competition Commission and the Board of Investments. The company's full statement is attached. ...

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