By Sheldeen Joy Talavera, Reporter
THE PHILIPPINE Competition Commission (PCC) on Monday said it has approved the $3.3-billion landmark deal among three energy giants, allowing them to proceed with their joint acquisition of power facilities and a liquefied natural gas (LNG) facility in Batangas, but subject to certain conditions.
In a statement on Monday, the PCC said it has greenlit the joint acquisition of two gas-fired power plants and an LNG terminal by Meralco PowerGen Corp. (MGen), Therma Natgas Power, Inc. (Therma), and San Miguel Global Power Holdings Corp. (SMGP).
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