LEGAZPI CITY: San Miguel Corp. (SMC) is set to takeover the debt-ridden Albay Electric Cooperative (Aleco) after three other interested buyers withdrew during the August 7 bidding for the said power distributor, Gov. Joey Salceda of Albay said over the weekend.

The governor noted that SMC would shoulder Aleco’s P4-billion debt.

Premium + Digital Edition

Ad-free access


P 80 per month
(billed annually at P 960)
  • Unlimited ad-free access to website articles
  • Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)

TRY FREE FOR 14 DAYS
See details
See details