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MER holds preliminary talks with Osaka Gas, buys into Comstech

02 Mar

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.

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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).

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Posted by on March 2, 2015 in Corporate News, MER, Stock Market

 

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