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Philippines' Maharlika Investment Corp acquires stake in National Grid, boosting government control over power.
The Maharlika Investment Corporation (MIC) of the Philippines has acquired a 20% stake in the National Grid Corporation of the Philippines (NGCP) through Synergy Grid & Development Philippines Inc. (SGP).
This deal grants MIC two seats on the SGP board and two out of 15 on the NGCP board, enhancing government control over the power grid.
The move aims to ensure reliable and affordable power while safeguarding against external threats.
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Maharlika Investment Corp de Filipinas adquiere participación en National Grid, impulsando el control gubernamental sobre el poder.