Philippines' First Gen Eyes Take-Private Deal From KKR at P165.44 Billion Valuation

Making sense of US firm KKR’s offer on Lopez family’s First Gen

The Lopez family now has two separate reasons to be careful about how its internal fight ends

Philippines' First Gen eyes take-private deal from KKR at P165.44 billion valuation

A mandatory offer from KKR KKR.N to buy Philippines-based First Gen Corp FGEN.PS would value it at around P165.44 billion  ($2.70 billion), the power producer and its parent First Philippine Holdings FPH.PS said on Thursday. First Gen disclosed on Wednesday that KKR had offered to buy an 8.43% stake in the company from First Philippine. The stake buy would likely trigger a mandatory tender offer […] The post Philippines’ First Gen eyes take-priv…

First Gen ‘ripe’ for delisting amid KKR buyout offer

MANILA, Philippines — United States-based equity firm Kohlberg Kravis Roberts & Co. (KKR) made an offer to hike its stake in Lopez-led First Gen Corp., a move that should be “seriously” considered, as this could open doors for the energy giant to finally go private, an analyst said. Juan Paolo Colet, managing director at investment

FPH weighs KKR’s buyout proposal for First Gen

First Philippine Holdings Corp. (FPH) confirmed receiving a preliminary, non-binding proposal from global investment firm Kohlberg Kravis Roberts & Co. (KKR) to acquire a significant additional stake in energy unit First Gen Corp. as part of a strategy to privatize the power producer.In a disclosure to the Philippine Stock Exchange on Wednesday, Aug. 12, FPH confirmed that KKR intends to purchase an 8.43 percent block of shares directly from FPH…