- | A deal inked by Petron $PCOR on its intent to sell its 140-megawatt power plant to affiliate firm $SMC Powergen Inc. |
- | The parties signified their targeted merger & acquisition transaction via MOU) that was signed |
- | The facility is supplying the electricity needs of its 180K per stream day refinery in Limay, Bataan |
| $PCOR selling its asset |
A preliminary deal had been inked by Petron Corporation on its intent to sell its 140-megawatt power plant to affiliate firm SMC Powergen Inc., one of the power generation investment corporate vehicles of the San Miguel group. The parties signified their targeted merger and acquisition (M&A) transaction via a memorandum of understanding (MOU) that was signed recently.
Under the MOU, it was stipulated that SMC Global Power which is the parent firm of SMC Powergen, “will conduct a preliminary review of the power plant and its operations over a six- month period to determine the feasibility of a possible acquisition.”
September 11, 2019 10:21 am