# Prime Infra acquires 60% stake in First Gen's gas assets for P50B

Prime Infrastructure Capital Inc. reached financial close on a P50 billion transaction to acquire a 60% controlling stake in First Gen Corp.'s gas assets in Batangas City, including four power plants and a proposed plant, as well as a 60% stake in an offshore LNG terminal.

- Type: Acquisition
- Announced: 2025-11-17
- Where: Batangas City, Philippines
- Value: $857.0M (50.0B PHP)
- Status: completed
- Products: gas-fired power generation, LNG terminal services
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Tokyo Gas](https://endata.com/companies/66559.md) (partner)
- [Prime Infrastructure Capital](https://endata.com/companies/85103.md) (acquirer)
- [First Gen Corp.](https://endata.com/companies/85104.md) (partner)
- [First Gen Corp.](https://endata.com/companies/85104.md) (target)

## Sources

- [lngindustry.com](https://www.lngindustry.com/liquid-natural-gas/18112025/prime-infra-acquires-60-of-first-gens-gas-assets/), 2025-11-18: "With this transaction, our Prime Infra assets are now fully connected across the energy value chain, from upstream to midstream to downstream."
- [gmanetwork.com](https://www.gmanetwork.com/news/money/companies/966855/prime-infra-loan-deal-acquisition-assets/story/), 2025-11-20: "This partnership with our banking institutions reflects their confidence in Prime Infra's long-term strategy on energy security."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.