{
  "id": 14001494,
  "title": "MVP, RSA close P2.19 billion Meralco deal",
  "url": "https://urgent.news/2026/10/12/mvp-rsa-close-p2-19-billion-meralco-deal",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-12T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/10/13/2562732/mvp-rsa-close-p219-billion-meralco-deal"
  },
  "original_language": "en",
  "account": "Tycoon Manuel V. Pangilinan has secured a significant stake in Manila Electric Co. (Meralco) through the completion of a P2.19-billion share purchase from San Miguel Group. The power arm of conglomerate San Miguel Corp., San Miguel Global Power Holdings Corp. (SMGP), sold about 3.77 million Meralco shares to Pangilinan at P580.99 each, executing the transaction through a special block sale on the Philippine Stock Exchange on October 9. Following the deal, Pangilinan, who chairs Meralco, increased his shareholding in the country's largest power utility to 0.34 percent.\n\nThe acquisition is part of the Pangilinan Group's efforts to strengthen its position in Meralco, whose franchise covers Metro Manila and nearby provinces. Last week, MPIC, led by Pangilinan, acquired P12.4 billion worth of Meralco shares from SMGP, raising its stake in the utility to 49.4 percent from 47.46 percent. Toby Allan Arce, head of sales trading at Globalinks Securities and Stocks Inc., views the latest acquisition as a strong expression of confidence in Meralco's long-term strategic value. For SMGP, the transaction is seen as a strategic move to rationalize its portfolio and recycle capital, as the power producer realizes substantial value from the minority investment and frees up capital for other priorities. MPIC is a diversified conglomerate with interests spanning power, toll roads, water, healthcare, real estate, light rail, and agribusiness, while SMGP is the country's second-largest power producer.",
  "summary": "Tycoon Manuel V. Pangilinan has secured another piece of Manila Electric Co., completing a P2.19-billion share purchase from Ramon Ang’s San Miguel Group out of his own pocket.",
  "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."
}