MER holds preliminary talks with Osaka Gas, buys into Comstech

02 Mar


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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