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FPH wins partial award in dispute with US-based SunPower

30 Jan

BY UNICAPITAL SECURITIES

First Philippine Holdings Corp. (FPH) subsidiary First Philec won a partial award from the International Chamber of Commerce in arbitration proceedings against SunPower Philippines Manufacturing Ltd.

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The arbitration panel ordered SunPower to purchase First Philec’s shares in their joint venture for the price of $30.3 million by Feb. 2, 2015.

SunPower should also pay First Philec $25.3 million for compensation under their supply agreement.

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Posted by on January 30, 2015 in Corporate News, FPH, Stock Market

 

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