Skip to main content

Hogan Lovells and Picazo, Buyco, Tan, Fider & Santos have advised investment consortium Philippines Renewable Energy Holdings Corp (PREHC) on its tender offer to acquire up to 31.7 percent of Energy Development Corp. (EDC), valued at $1.28 billion (P64.5 billion). 

Skadden, Arps, Slate, Meagher & Flom and Quiason, Makalintal, Barot, Torres, Ibarra and Sison & Damaso were also involved in the deal, representing power producer First Gen Corp., EDC’s parent company, and its wholly-owned subsidiary Red Vulcan Holdings. 

PREHC is controlled by Macquarie Infrastructure and Real Assets (MIRA) and Arran Investment, an affiliate of Singapore’s sovereign wealth fund GIC, which was represented by Allen & Gledhill. 

First Gen will retain control of EDC after the tender offer, according to a media release. EDC, the largest renewable energy company in the Philippines, is expected to be delisted from the PSE. 

The Skadden team was led by Hong Kong partner Jonathan Stone. Corporate partners Mark Cooper and Stephanie Keen handled the transaction for Hogan Lovells. 

Related Articles

Deals

N&A, S&C, TMI advise as Japan's Nidec makes $1.6 bln bid for Makino Milling

by Asian Legal Business《亚洲法律杂志》 |

TMI Associates, Freshfields and Davis Polk & Wardwell have represented Japanese manufacturing giant Nidec on its 257-billion-yen ($1.6 billion) bid for Makino Milling Machine, which turned to Nishimura & Asahi and Sullivan & Cromwell for advice.

Deals

N&A, MHM, Skadden, STB guide JX Advanced Metal’s $3 bln Japan IPO

by Nimitt Dixit |

Nishimura & Asahi and Skadden Arps Slate Meagher & Flom are advising JX Advanced Metals on its upcoming 460-billion-yen ($3 billion) initial public offering, the largest listing in Japan since SoftBank Corp’s $23.5 billion IPO in 2018.

Deals

Trilegal, Touchstone, CAM act on Carlyle’s $400 mln entry into India auto-components space

by Nimitt Dixit |

Trilegal has advised global private equity firm Carlyle on its acquisition of majority stakes in Highway Industries (HIL) and Roop Automotives for $400 million, marking its entry into India's auto components sector through a new manufacturing platform.