Sy, Coyiuto Consolidate Hold on National Grid
SOURCE: Philippine Daily Inquirer
Holding firm UEM Development Philippines Inc. (PSE: MK) plans to issue PhP2 billion worth of shares to businessmen Henry Sy Jr. and Robert Coyiuto Jr. as part of a share-swap deal that will allow the company to gain control of the privatized electricity superhighway operated by National Grid Corporation of the Philippines (NGCP).