LEANDRO Leviste’s wholly owned Provincia Investments Corp. will allocate P15 billion to create jobs in Batangas and other provinces in addition to an initial P5-billion investment in sister firm Countryside Investment Holdings Corp..
The investment will be primarily funded from the sale of Leviste’s secondary shares in SP New Energy Corp. (SPNEC).
“We are grateful to our partners who have helped our business grow. Now that we have this capital, it is our responsibility to invest in it to benefit as many of our countrymen as we can,” Leviste said.
Meralco PowerGen Corp. recently paid Leviste, through Solar Philippines Power Project Holdings Inc., a total of P6.7 billion for 5.8 billion shares of SPNEC. Leviste continues to own 14.7 billion shares, or a 29.4-percent stake in SPNEC.
In 2021, Provincia and Ayala-led power firm AC Energy Corp. inked a loan agreement to fund its land acquisition in Tarlac, which has since been fully repaid.
Provincia also recently acquired the largest poultry farm in Nueva Ecija with a land area of roughly 60 hectares.
The acquisition price was not disclosed, but the land was said to be valued at a net price of the poultry structures’ value.
Provincia is focused on making value investments in real estate and equities for industrial, commercial, energy and infrastructure-related developments.
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