Philippines’ Meralco joins HK$3.8b Singapore power venture

Manila Electric Co (Meralco) and Hong Kong-listed First Pacific will buy a 70 per cent stake in a power company in Singapore for S$600 million (HK$3.6 billion), the Philippine firm said on Tuesday.

It will be Meralco’s first power venture outside the Philippines, where it is the largest power utility, as it seeks to transform itself into a regional power distributor. It is also looking at investments in other Southeast Asian countries.

via Business feed http://www.scmp.com/business/companies/article/1179255/philippines-meralco-joins-hk38b-singapore-power-venture