Lopez Inc. majority presses ‘Piki’ over gas, hydro deals

MANILA, Philippines — Majority shareholders of Lopez Inc. pressed Federico “Piki” Lopez to explain key asset deals, citing governance concerns. In a statement, majority shareholders questioned Piki why First Gen Corp.’s gas assets were sold to Prime Infrastructure Capital Inc.. After that, a 40-percent hydropower stake was cut to 33 percent. READ: First Gen buys 40% of Prime Infra hydro assets for P75B The majority said the transactions lacked shareholder approval despite being material. They said these raised issues on valuation, control premiums and disclosure to the family. They described the moves as “blunders,” likening them to past controversies. Also, […]... Keep on reading: Lopez Inc. majority presses ‘Piki’ over gas, hydro deals

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