MerryMart [MM 1.94 6.01%] [link] will be halted for an hour this morning after MM finalized the acquisition of Cecile’s Pharmacy from the Saavedra Family in Mindanao. MM’s post-transaction stake will be 53.125%, and it will have the right (not obligation) to increase its stake to 67% in 58 months. MM has control of the board.
AC Energy [ACEN 7.79 1.96%] [link] FY21 profit up 22% to P5.3 billion, due to 700 MW of new operating capacity. ACEN plans to spend P55 billion this year to “fund its renewables portfolio expansion”, which it will spend both domestically and in India and Vietnam. Just thinking out loud, but I wonder if a potential deal with Solar Philippines NEC [SPNEC 1.87 1.08%] is included in that budget. Incentives for ACEN and SPNEC are aligned.
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