Philippine infrastructure conglomerate Metro Pacific Investments Corp MPI.PS on Tuesday said it signed a deal to acquire a minority stake in renewable energy firm SP New Energy Corp SPNEC.PS for 2 billion pesos ($36.8 million).
Metro Pacific, a unit of Hong Kong’s First Pacific Co Ltd, was given the option to become the single largest shareholder of SPNEC, the company said in a disclosure.
($1 = 54.30 Philippine pesos)
—Reporting by Neil Jerome MoralesEditing by Ed Davies
