San Miguel To Join K-Water On 281-MW Hydroelectric Plant

Law360, New York (August 29, 2013, 1:40 PM EDT) -- San Miguel Corp., the biggest company in the Philippines, is partnering with Korea Water Resources Corp. on $441 million plans to acquire a 281-megawatt hydroelectric plant as it tries to expand into the energy industry, the conglomerate said in a Thursday filing.

The confirmation comes after local media reports that the two were nearing a deal that would unite San Miguel with K-Water, which beat out the Philippines company in a 2010 auction for rights to run the project, situated near Manila.

Neither firm gave a...
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