GIC Invests in AC Energy Philippines
Posted on 11/12/2020
Singapore’s GIC Private Limited, through Arran Investment Pte Ltd, acquired a 17.5% stake in AC Energy Philippines for around 20 billion Philippine pesos (US$ 413.7 million). The investment will be conducted through the sale of four billion primary shares through a private placement and purchase of secondary shares from AC Energy at a price of P2.97 per share. AC Energy will not participate in the initial round of the shareholder rights offering to provide maximum availability to minority shareholders. AC Energy Inc. is owned by The Ayala Group (Ayala Corporation). Ayala Corporation is the publicly listed holding company for the diversified interests of the Ayala Group.
AlphaPrimus Advisors acted as financial advisor to AC Energy Philippines and AC Energy for this transaction.
