Trans-Asia Oil buys out Holcim in power firm

A+
A
A-

Trans-Asia Oil and Energy Development Corp. has bought out its partner in Trans-Asia Power Generation Corp.

In a disclosure to the Philippine Stock Exchange on Wednesday, Trans-Asia Oil said it had signed on Jan. 1 a share purchase agreement that allowed it to acquire Holcim Philippines Inc.’s 50-percent stake in Trans-Asia Power. The deal gave Trans-Asia full ownership of the power firm.

The companies, however, did not give other details of the deal and officials were unavailable for interview as of press time.

Trans-Asia Power currently owns and operates a 52-megawatt diesel-fed power facility in Bulacan.—Amy R. Remo

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

editors' picks

advertisement
advertisement