The shareholders of Aboitiz Equity Ventures (AEV) have formally approved the investment of Japanese firm JERA Asia Private Limited in Aboitiz Power Corporation.
In a disclosure by AEV — AboitizPower’s parent firm — to the Philippine Stock Exchange, it said the stockholders ratified the sale of 1.84 billion AEV shares or 25.01% of the outstanding common shares of AboitizPower to JERA during a special stockholders meeting.
The Philippine Competition Commission cleared the deal in October.
Back in August, AboitizPower — the country’s largest power generator — said it would invest Php190 billion to increase its RE capacity to half of its generation portfolio by 2030.
