ABOITIZ Power Corp. (AboitizPower) said on Wednesday it has acquired full ownership of East Asia Utilities Corporation (EAUC), the operator of a 50-megawatt oil-fired power plant in Mactan Island in Cebu, from El Paso Philippines Energy Co. Inc. (EPPECI).
In a disclosure to the Philippine Stock Exchange (PSE), AboitizPower said it increased its ownership of EAUC from 50 percent to 100 percent after forging a deal with its partner Avenue Asia.
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