{
  "id": 12670646,
  "title": "MVP hikes Meralco stake with P2.2 billion SMC deal",
  "url": "https://urgent.news/2026/10/07/mvp-hikes-meralco-stake-with-p2-2-billion-smc-deal",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-07T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/10/08/2561590/mvp-hikes-meralco-stake-p22-billion-smc-deal"
  },
  "original_language": "en",
  "account": "Manila Electric Co. (Meralco) shareholder Manuel V. Pangilinan has increased his stake in the utility company through a P2.2 billion Special Block Sale with San Miguel Corp.'s power arm, San Miguel Global Power Holdings Corp. (SMGP). SMGP will sell approximately 3.77 million Meralco shares to Pangilinan for a total consideration of P2.19 billion, bringing Pangilinan's ownership to 0.34 percent of Meralco. This transaction, which is subject to closing conditions, follows a P12.4 billion deal SMGP made with Metro Pacific Investments Corp. (MPIC), which will see MPIC's stake in Meralco rise to around 49.4 percent from 47.46 percent. Both deals were valued at a 16.2-percent premium over Meralco's 90-day weighted average price of P500.09 per share as of September 30. SMGP had acquired around 46.6 million Meralco shares from the state-run Land Bank of the Philippines through special block sales last year, marking the completion of a long-delayed transaction that began in 2008. Despite not receiving any dividends, SMGP estimates the forgone dividends from these shares would have amounted to about P13 billion over 17 years, or roughly P21 billion in today's value. MPIC plans to redeploy the capital from its Meralco stake to support its renewable energy projects, aligning with its long-term strategy of focusing resources on businesses where it has a direct operating role.",
  "summary": "Tycoon Manuel V. Pangilinan has struck another deal with Ang-led San Miguel Corp.’s power arm to further tighten his hold on Manila Electric Co..",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}