Aboitiz Power Restructures Ownership in GNPower Mariveles and Dinginin Plants

Aboitiz Power Corp.’s (PSE: AP) wholly owned subsidiary Therma Power Inc. (TPI) is streamlining its share ownership structure in GNPower Mariveles Coal Plant Ltd. Co. (GNPower-Mariveles) and GNPower Dinginin Ltd. Co. (GNPower-Dinginin).

The restructuring involves the transfer of direct ownership of GNPower-Mariveles and GNPower-Dinginin from the offshore subsidiaries of TPI to TPI and the eventual dissolution and liquidation of the offshore intermediary subsidiaries that own the GNPower-Mariveles and GNPower-Dinginin shares.

As a result TPI will directly own 66.01% partnership interest in GNPower-Mariveles and 50% partnership interest in GNPower-Dinginin.

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