Greenergy boosts stake in AgriNurture to 30.26%

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Formerly listed as a firm whose focus was solely on energy investment, Greenergy Holdings Inc. has diversified its businesses and now holds significant interest in Agrinurture Inc. (ANI) after buying more secondary shares in the agricultural firm.

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In a filing with the Philippine Stock Exchange, Greenergy said on Tuesday it has acquired 27 million secondary common shares in ANI through the open market at an aggregate price of P113.7 million, inclusive of taxes, fees and commission, or P4.21 per share.

The acquisition, according to the listed firm, is equivalent to 4.34 percent of the total issued and outstanding shares of ANI.

After the transaction, the Greenergy should hold a total of 30.26 percent of the total issued and outstanding shares of ANI.

A week ago, Greenergy Holdings bought its first set of secondary shares in ANI.

The company specifically acquired 60.9 million secondary common shares of ANI through the open market for an aggregate consideration of P255 million or P4.19 per share.

As of then, Greenergy was holding a total of 14.03 percent of the total issued and outstanding shares of ANI.

In March, Greenergy exited the renewable energy renewable energy venture by unloading the bulk of its stake in a biomass project with a Swiss-German firm.

Greenergy sold all its shares in Biomass Holdings Inc. (BHI) to its partner ThomasLloyd Cleantech Infrastructure Fund GmbH (Cleantech).

BHI is the joint venture company of Greenergy and Cleantech that which held their investment in San Carlos Biopower Inc.

Greenergy started out its diversification into other businesses late last year.
In 2013, Greenergy formalized its ventures into the real estate and technology sectors as part of its diversification.

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