CONGLOMERATE San Miguel Corp. (SMC) said it would subscribe to redeemable securities worth $650 million (P33.85 billion) to partly finance the acquisition of the 630-megawatt (MW) Masinloc coal power plant by its unit, SMC Global Power Holdings Corp.
In a disclosure, San Miguel said its board of directors approved on Thursday the subscription by the company to redeemable perpetual securities to be issued by SMC Global Power.
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