Megawide Construction (PSE:MWIDE) acquired a 9.88% stake in Citicore Renewable Energy (PSE:CREC) through a block sale with Citicore Power, the parent of CREC.
The transaction involved 1.1 billion secondary shares and is non-dilutive to existing shareholders, according to a Friday Philippines Exchange filing.
The deal forms part of the settlement of advances between the Megawide-Citicore group, with the remaining 1.5 billion Philippine pesos balance expected to be settled by year-end, it said.
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