BY F. YAP SECURITIES / 2TRADEASIA
Manila Electric Company (MER) clarified talks between the firm and Japan’s Osaka Gas are only in exploratory stages. No definitive accord has been made ￼between parties.
Meanwhile, MER signed a Shareholder’s Agreement (SHA) with Comstech Integration Alliance (Comstech) to subscribe to new Comstech shares worth PHP 300 million at PHP 100/share par value.
The purchase covers 60% of Comstech, which manages and operates ￼Pampanga II Electric Cooperative (PELCO II).