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

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.

R&T guides VietJet on historic $8 bln aviation deal

by Nimitt Dixit |

Singapore’s Rajah & Tann has advised Vietnam's VietJet Air on reaffirmation of its $8 billion deal with CFM International to acquire over 400 CFM advanced Leap 1B Aircraft Engines.

Davis Polk, Gibson Dunn advise on $2.3 bln Nippon Paint-AOC deal

Davis Polk & Wardwell has advised Japanese paint manufacturer Nippon Paint on its $2.3 billion acquisition of U.S. chemicals formulator AOC from Lone Star Funds, which was represented by Gibson, Dunn & Crutcher.