# Meralco PowerGen to fully acquire Global Business Power Corp.

Meralco PowerGen Corporation (MGen) will acquire the remaining 86% of Global Business Power Corporation (GBP) from Metro Pacific Investments Corporation and JG Summit Holdings Inc. for a total of PHP 34.466 billion, making GBP a wholly-owned subsidiary.

- Type: Acquisition
- Announced: 2021-01-04
- Where: Philippines
- Value: $710.0M (34.5B PHP)
- Status: announced
- Products: electric power generation
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Meralco PowerGen Corporation](https://endata.com/companies/52264.md) (acquirer)
- [Global Business Power Corporation](https://endata.com/companies/52265.md) (target)
- [Metro Pacific Investments Corporation](https://endata.com/companies/52266.md) (partner)
- [JG Summit Holdings Inc.](https://endata.com/companies/52267.md) (partner)

## Sources

- [mgen.com.ph](https://mgen.com.ph/meralco-powergen-to-take-over-global-business-power-corp/), 2021-01-04: "Meralco PowerGen Corporation (MGen), a wholly-owned generation subsidiary of the Manila Electric Co. (Meralco), is set to fully acquire and take over Global Business Power Corporation (GBP)."

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