Trans-Asia Buys Out Holcim in Power JV

PHStocks 01/01/201307/01/2013 0 Comments HLCM, Holcim, Phinma, PHN, PSE, TA, TAPGC, Trans-Asia, Trans-Asia Oil and Energy, Trans-Asia Power Generation

Makati—(PHStocks)—Trans-Asia Oil and Energy Development Corporation (Trans-Asia, PSE: TA) and Holcim Philippines Inc. (PSE: HLCM) has signed a Share Purchase Agreement for the purchase by Trans-Asia of Holcim’s 50% stake in Trans-Asia Power Generation Corporation (TAPGC).

TAPGC is a joint venture between Trans-Asia and Holcim. It owns and operates a 52MW power plant in Norzagaray, Bulacan.

Trans-Asia is a subsidiary of Phinma Corp. (PSE: PHN).