JG Summit Holdings, Inc. is set to acquire a 30-percent stake in Global Business Power Corp. (GBPC), a move that the conglomerate hopes will enlarge its presence in the power sector.
In a disclosure to the Philippine Stock Exchange, the Gokongwei-led conglomerate on Friday said that it will buy 577.21 million shares GBPC at P20.47 apiece or a total of P11.815 billion, based on the enterprise value of the investment.
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