Tiu consolidates businesses

Iris Gonzales - The Philippine Star

MANILA, Philippines — Businessman Antonio Tiu is consolidating his ownership in Greenergy Holdings Inc. and his agro-business company AgriNurture Inc. (ANI) in a bid to create a conglomerate that will address Filipinos’ need for agricultural products, financial technology or fintech, clean energy, sustainable real estate and bio technology.

As part of this move, Tiu acquired 207.8 million common shares or 11.54 percent of Greenergy from Thomaslloyd Cleantech Infrastructure Fund GMBH (Cleantech) for P415.5 million.

The acquired shares comprise all the shares held by Cleantech in Greenergy.

Cleantech is the foreign investor behind Greenergy’s 20 megawatt San Carlos biopower plant in Negros in 2012. It, however, divested the facility in 2014.

“As a result of the acquisition of the said shares, Tiu shall hold a total of 510.5 million common shares or 28.35 percent of the total issued and outstanding shares of Greenergy while Cleantech will no longer hold any shares in the company,” Greenergy said.

Tiu’s vision is to advance green projects which are all resilient to the COVID-19 pandemic, with the overall aim of maximizing opportunities for business growth, enhancing shareholder value and more importantly, helping meet the needs of underserved Filipino consumers.

He also wants to convert Greenergy into a holding firm to own AgriNurture as well as other businesses such as fintech, green infrastructure, bio tech and renewable energy projects.

Tiu will consolidate ANI shares under Greenergy as part of the latter’s conversion into a bigger holding firm.  It will also infuse the fintech assets such as digital bank and the agri-token ecosystem.

At present, Greenergy owns 100 percent of WinSun Green Ventures; 62.3 percent of Sunchamp Real Estate Development Corp; 51 percent of the Yakuru Group and almost 20 percent of ANI.

Winsun is a developer of green energy projects and distributor of solar panels while Sunchamp is a real estate developer focused on developing self-sustaining agri-tourism projects.

It currently has rights over 145 hectares of land in Rosario, Batangas.

The Yakuru Group is an Australian health and wellness company that is engaged in the medical cannabis business.  Its CBD oil has secured regulatory approval in Australia and is selling direct to consumers in Australia and nearby countries.

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