Inquirer
MANILA, Philippines – The majority shareholders of family holding firm Lopez Inc. said “poison pill” provisions in a key energy deal could cost about P24 billion amid the family feud. The provisions are embedded in First Gen Corp.’s agreements with Prime Infrastructure Capital Inc. covering gas and hydropower assets. READ: lopez-inc-family-feud-explodes-into-leadership-battle In a statement on Monday, the majority faction led by Eugenio “Gabby” III said the clauses would be triggered if Federico ‘Piki’ Lopez is removed as chair and CEO. Once triggered, Prime Infra could buy out First Gen’s remaining stakes in both businesses at a 25 percent discount, the […]... Keep on reading: ‘Poison pills’ deepen Lopez row
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