KKR & Co enters agreement with First Gen Corp for the 11.9% stakes sale
Date
July 06, 2020
Type
M&A Transactions
Subtype
Transaction agreement announced
Countries
Philippines
Subsectors
Multisector
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Kohlberg Kravis Roberts (KKR & Co Inc) has entered into an agreement with the First Philippine Holdings Corporation for the sale of an 11.9% stakes in First Gen Corporation.
KKR has purchased 427 million common shares of First Gen PHP22.50 (US$0.454) apiece for a total value of about PHP 9.6 billion (US$192.6 million).
First Gen is operating in natural gas, as well as through renewable energy sources, such as geothermal, hydro, wind, and solar.
