Razon-led Prime Infra acquires 60% of First Gen's gas business for ₱50 billion

Razon-led Prime Infra acquires 60% of First Gen's gas business for ₱50 billion

Lopez-led First Gen Corporation has formally reported to the Securities and Exchange Commission (SEC) that it will be unloading 60 percent of its gas businesses to Prime Infrastructure Capital Inc., a company owned by billionaire Enrique Razon, for ₱50 billion through the execution of a term sheet.“The term sheet includes the parties’ agreement to enter into one or definitive agreements for the purchase by Prime Infra of 60 percent equity stake …