AC Energy completes acquisition of PHINMA Energy
24 June 2019 – AC Energy, the energy platform of Ayala, has completed the acquisition of PHINMA Inc.’s and PHINMA Corporation’s (collectively, “PHINMA”) combined 51.48% stake in PHINMA Energy corporation (“PHEN”). AC Energy acquired PHINMA’s stake via a purchase of secondary shares for PhP 3.669 billion, AC Energy has also subscribed to 2.632 billion PHEN…
PCC issues approval for AC Energy’s acquisition of PHINMA Energy
12 April 2019 – AC Energy, the energy platform of Ayala Corporation, has received approval from the Philippine Competition Commission (PCC) for its acquisition of PHINMA Inc.’s and PHINMA Corporation’s (collectively, “PHINMA”) combined 51.48% stake in PHINMA Energy Corporation (“PHEN”). AC Energy will acquire PHINMA’s stake via a purchase of secondary shares for approximately PhP3.42…
AC Energy, partner secure financing for Australia solar farm
Source: PhilStar 16 February 2019 – MANILA, Philippines — AC Energy and Infrastructure Inc. (ACEIC) and its partner have secured financing from three banks for their mega solar project in Australia, with plans to add battery storage facility. UPCAC Renewables Australia, the joint venture of ACEIC and UPC Renewables, has reached financial close for the…
AC Energy, Phinma Group finalize P6-billion power deal
Source: PhilStar 12 February 2019 – MANILA, Philippines — AC Energy Inc., the energy platform of the Ayala conglomerate, has finalized a deal with the Phinma Group to acquire the latter’s power business for a total of P6 billion. In separate disclosures yesterday, Ayala Corp. and Phinma Corp. said they signed the investment agreement last…
AC Energy green bond issuance attracts $410 million ADB, IFC funds
Source: PhilStar 6 February 2019 – MANILA, Philippines — AC Energy Inc., the energy platform of the Ayala conglomerate, has received the backing of two of the world’s largest development institutions, raising a total of $410 million from the issuance of green bonds. International Finance Corp. provided an anchor investment of $75 million to complete…
AC Energy Launches Maiden Green Bond
23 January 2019 | Singapore — AC Energy Inc. (“AC Energy”), Ayala Corporation’s (PSE:AC) energy platform, successfully set the terms of its inaugural US dollar-denominated senior Green Bond issuance at an aggregate principal amount of US$225 million with a 5-year tenor and a coupon of 4.75% per annum, priced at 99.451 (the “Bonds”). The Bonds…
Ayala subsidiary acquires majority stake in Phinma Energy
Source: Philippine Daily Inquirer 10 January 2019 – The Ayala group is ramping up its energy business by acquiring a 51.48-percent stake in Phinma Energy Corp., to help reach its renewables goals. AC Energy signed with Phinma Corp. a strategic agreement that paved the way for the former to acquire a majority position in Phinma…
Ayala to invest in PHINMA Energy
8 January 2019 – AC Energy, Ayala’s energy platform, and PHINMA today inked a mutually strategic agreement in relation to AC Energy’s investment in PHINMA Energy Corporation (“PHEN”). AC Energy will acquire PHINMA’s combined 51.48% stake in PHEN via a secondary share sale for approximately P3.42bn. This is based on the valuation date of December…
Ayala energy unit to focus on growing RES customer base
Source: BusinessWorld 3 January 2019 – AYALA-LED AC Energy, Inc. is looking at its retail electricity supply (RES) unit as a long-term business whose growth in the near term is meant largely to establish a respectable customer base, its top official said. “We don’t want to grow for growth’s sake because this is a long-term…
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