Malaya plant winning bidder assigns asset purchase rights to subsidiary – Manila Bulletin
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Fort Pilar assigns right to buy Malaya plant
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Published May 7, 2021, 5:13 PM
Filipino firm Fort Pilar Energy Inc. emerged as the winning buyer of the 650-megawatt Malaya thermal power facility with P3.123 billion price offer – the divestment process of which was through a negotiated deal consummated on Friday (May 7).
State run Power Sector Assets and Liabilities Management Corporation (PSALM) announced that the plant’s negotiated sale was a “success”; and the tendered purchase price for the Malaya facility had been way higher than the set minimum offer price of P1.845 billion.
The winning offer of Fort Pilar Energy heftily exceeded the P2.22 billion bid of AC Energy Corporation of the Ayala group, which also showed sustained interest in the Malaya thermal facility.