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Transco sees sale of assets to Aboitiz, Meralco.
(From Philippine Daily Inquirer)
Byline: Abigail L. Ho
THE NATIONAL Transmission Corp. (Transco) expects to sell some P750 million worth of sub-transmission assets this year to the Aboitiz group and to the Lopezes' Manila Electric Co.
Transco president and chief executive Alan Ortiz said the Aboitiz group was eyeing the wholesale acquisition of the sub-transmission assets within the franchise areas of its power utility firms, such as Visayan Electric Corp. and Davao Electric Corp.
These assets were estimated to be worth P250 million, he said.
"I've already met with Veco, Davao Electric and the Aboitizes. We're now just discussing some technical considerations," he told reporters.
Apart from the prospective sale to the Aboitiz group, he said Transco was expecting to sell another P500 million worth of sub-transmission assets to Meralco.
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