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MANILA, Philippines – The majority bloc of the Lopez family alleged that Federico “Piki” Lopez agreed to pay a P50-billion transaction premium to Prime Infrastructure Capital Inc. as part of First Gen Corp.’s P75-billion investment in the latter’s hydropower business.
The deal between First Gen and Prime Infrastructure has become a flashpoint in the ongoing family dispute over control of the Lopez Group.
In a fresh statement on Tuesday, the Lopez-led group, headed by Eugenio “Gabby” Lopez III, said First Gen’s acquisition of a 40-percent stake in Prime’s hydropower assets included a premium on top of the P25 billion in construction equity.
READ: Piki seeks ‘lasting’ Lopez peace
