Philippine Billionaire Sy Family’s SM Investments Takes Over Geothermal Company In $304 Million Deal - Forbes

SM Investments Corp. (SMIC) said it will take full ownership of Philippine Geothermal Production Co. in a 15.7 billion peso ($304 million) all-share deal as the country’s largest conglomerate by market capitalization seeks to lower its carbon footprint.

SM Investments is taking over Philippine Geothermal, which produces electricity from geothermal ... [+] steam fields in Bicol, south of the Philippine capital of Manila and famous for its picturesque… [+2416 chars]

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