The majority shareholders of the Lopez family have petitioned the Securities and Exchange Commission (PSE) and the Philippine Stock Exchange (PSE) to investigate First Gen Corp. over alleged disclosure violations involving “poison pill” provisions in agreements with Prime Infrastructure...
First Philippine Holdings Corp. (FPH) indefinitely postponed its annual shareholders’ meeting as bitter internal feud between factions of the Lopez family spills over into the boardroom of one of the country’s most prominent conglomerates. The company informed the Philippine Stock Exchange on...
First Gen Corp. clarified the inclusion of “Key Man” clauses in its hydropower joint venture with Prime Infrastructure Capital Inc., dismissing descriptions of the management control provisions as a “poison pill” and asserting the terms were a requirement of its partner. The power producer...
First Gen Corp. confirmed that it faces a potential financial hit of more than ₱23 billion if Federico “Piki” Lopez is ousted from leadership, disclosing “poison pill” clauses in its partnership with ports, and gaming magnate Enrique K. Razon Jr.’s Prime Infrastructure Capital Inc. In...
BDO Unibank Inc., the Philippines’ largest lender by assets, provided ₱30 billion to help finance Prime Infrastructure Capital Inc.’s acquisition of a controlling stake in gas assets previously held by First Gen Corp. In a statement, BDO said the financing accounts for 60 percent of the ₱50...
Months after Razon-led Prime Infrastructure Capital Inc. (Prime Infra) moved to acquire a majority stake in the gas business of Lopez-led First Gen Corp. (FGen), both parties are now awaiting the green light from the anti-trust watchdog Philippine Competition Commission (PCC) to complete the deal....
WawaJVCo, Inc. said the company is accelerating preparations for the Upper Wawa Dam 's commercial operations in December, following the project 's completion seven months ahead of schedule. In a statement on Friday, June 20, the joint venture company between Prime Infrastructure Capital,...
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...
Prime Solar Solutions Corp. (Prime Solar), a subsidiary of Prime Infra, has activated its 128-megawatt photovoltaic (PV) plants in Tanauan, Batangas, and Maragondon, Cavite, a step towards full commercial operations. Guillaume Lucci, Prime Infra president and chief executive officer, said the move...
Prime Waste Solutions Pampanga Inc. (PWS Pampanga), a subsidiary of Razon-led Prime Infrastructure, has been tapped by the Clark Development Corporation (CDC) as the lone service provider for waste management in Clark, Pampanga. During a memorandum signed last Sept. 16, PWS Pampanga was accredited...
Prime Solar Solutions Corp., a unit of the Razon-led Prime Infrastructure Capital Inc., officially opened its 64-megawatt solar power facility in Maragondon, Cavite on Wednesday, July 17. In a statement, Guillaume Lucci, Prime Infra president and chief executive officer, said the completion of the...
Ayala Land Inc. (ALI) and its real estate investment trust AREIT Inc. (AREIT) have entered into a strategic partnership with the tycoon Enrique K. Razon’s Prime Integrated Waste Solutions, Inc. (PWS) facility in Cebu City to recover solid waste from its office buildings. In a statement, ALI said...
