San Miguel sells 1.9% Meralco stake to MPIC for P12.4B at P580.99/share

San Miguel Corp. is selling a 1.9% stake in Manila Electric Company (Meralco) — 21.4 million shares — to Metro Pacific Investments Corp. for P12.4 billion ($198M) at P580.99 per share, lifting MPIC's total Meralco stake to 49.4%. San Miguel is using the proceeds to fund infrastructure and pay down debt.

Detected & updated continuously · Source: Nebula