EGCO Pays $375M For Stake In Philippines Energy Project

Law360, New York (May 14, 2012, 8:02 PM EDT) -- Global power generation company InterGen has agreed to sell a nearly 50 percent stake in an energy project in the Philippines to Thailand-based EGCO Group for $375 million, both companies announced Sunday.

The deal means EGCO will gain a 98 percent ownership interest in the Quezon Power Project, which began operations in May 2000. It consists of a 460-megawatt coal-fired electric generating facility and a 31-kilometer transmission line in Mauban, Philippines.

The project was originally built by an international consortium that included Ogden Energy Group, Inc.,...
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