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MANILA, Philippines – Lopez-led First Gen Corp.’s growing renewable energy arm has caught the interest of Indonesian energy giant PT Barito Renewables, with the latter offering to acquire the subsidiary for $5 billion.
In a regulatory filing on Wednesday, the group confirmed a news report from Bloomberg about an unsolicited offer from Barito Renewables to get a hold of Energy Development Corp. (EDC).
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“To date, there have been no discussions between the parties, no agreements have been signed, and First Gen has not appointed any advisors for this transaction,” the company said.
