Manila Electric Interested in San Miguel Power Assets

Manila Bulletin, August 9, 2013 | Go to article overview

Manila Electric Interested in San Miguel Power Assets


Manila Electric Co. said it's interested in buying some of San Miguel Corp.'s power plants, to help the electricity retailer's expansion into power generation.

"If San Miguel is prepared to sell, we're prepared to take a look at it," Manila Electric Chairman Manuel Pangilinan said in an interview.

Manila Electric, also known as Meralco, is looking to return to generation after a four-decade hiatus, with plans to supply as much as 30 percent of demand on the Philippines' main island of Luzon. San Miguel, a shareholder of Meralco, wants to raise about $4 billion by selling power assets to help fund its expansion into industries and infrastructure, President Ramon Ang said in an interview on July 12.

Meralco is particularly interested in San Miguel's 1,200- megawatt coal-fired Sual power plant and its 345-megawatt San Roque hydroelectric plant, said Pangilinan. Both are in Luzon where the company is based. Meralco serves a quarter of the Philippines' population in an area that accounts for half of gross domestic product.

San Miguel's Ang didn't respond to mobile-phone messages seeking comment.

Meralco shares rose 2 percent to 281.40 pesos, its biggest gain since July 25. San Miguel gained 2.7 percent to 84.35 pesos, after falling in the past five sessions. The benchmark Philippine stock index was unchanged at 6,420.79.

San Miguel last month raised $400 million (P17.37 billion) by selling 54.3 million Meralco shares, leaving the company with a 27 percent stake in the power retailer. A fifth of the shares were purchased by Beacon Electric Asset Holdings Inc., the utility's major shareholder and also controlled by Pangilinan. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Manila Electric Interested in San Miguel Power Assets
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.