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Article: ABOITIZ SHARE SWAP AGREEMENT WITH POWER DISTRIBUTION COs GETS OK.
- Article from:
- AsiaPulse News
- Article date:
- January 14, 2008
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MANILA, Jan 14 Asia Pulse - The Securities and Exchange Commission (SEC) on Monday approved the share swap agreement that Aboitiz Power Corporation (AP) entered with shareholders of three of its power distribution utilities.
These utilities are Subic Enerzone Corporation (SEZ), Mactan Enerzone Corporation (MEZ) and Balamban Enerzone Corporation (BEZ), all of which distribute power to special economic zones.
The share swap agreement involves the issuance of a total of 170,940,307 AP common shares at the initial public offering price of P5.80 per share to acquire 100 per cent of MEZ and 60 per cent of BEZ from Aboitizland, Inc., as well as the combined 25 ...