Daven Tamayo

KKR eyes acquiring 8 percent of FPH stake in First Gen

Article (news)

ABS-CBN News

MANILA — First Philippine Holdings Corp said global investment firm KKR has made an offer to acquire an additional 8.43 percent of FPH shares in First Gen.In the proposal, KKR offered to purchase 8.43 percent of FPH common shares in First Gen and enter into a shareholders’ agreement with FPH, after which KKR will also launch a voluntary tender offer for the entire public float of 11.67 percent of First Gen&#x27;s outstanding common shares. This will also support a petition for First Gen&#x27;s voluntary delisting from the PSE, an FPH disclosure said.First Gen, in a separate disclosure, said the proposal was sent last July 10, 2026.However, both FPH and First Gen said that the offer was &quot;preliminary and non-binding.&quot;KKR also reserved the right to amend, vary, suspend, withdraw, or discontinue discussions regarding the proposal, including structure, timing, price, conditions or scope, the statement said.KKR already has <a href="https://www.abs-cbn.com/business/06/29/20/kkr-acquiring-stake-in-first-gen" rel="noopener noreferrer" target="_blank">existing shares</a> in power producer First Gen.

KKR offered to purchase 8.43 percent of FPH common shares in First Gen and enter into a shareholders’ agreement with FPH.

KKR offered to purchase 8.43 percent of FPH common shares in First Gen and enter into a shareholders’ agreement with FPH.