Yahoo Philippines News - Live 2013 Philippine Elections News Updates and Results: JG Summit buys Meralco shares from San Miguel for P72-B

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JG Summit buys Meralco shares from San Miguel for P72-B Oct 1st 2013, 06:38 JG Summit Holdings Inc. is buying the entire stake of San Miguel Group in Manila Electric Company (Meralco) for P72 billion, the Gokongwei-led holding company said in a disclosure Tuesday.The entire stake of San Miguel Group in Meralco amounts to 27 percent of the company's total outstanding shares, JG Summit said.The company will finance the acquisition with a combination of debt and equity capital.Credit Suisse is the sole financial adviser for transaction which is still subject to the completion of certain mutually agreed conditions to closing. ...

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