CITICORE Renewable Energy Corp. (CREC) on Friday said that Indonesia’s PT Pertamina Power Indonesia (Pertamina NRE) would be subscribing to a 20-percent stake in the firm for about P6.7 billion (approximately $115 million).
In a disclosure to the Philippine Stock Exchange (PSE), CREC said Pertamina NRE would be purchsing more than 2.2 billion common shares at P3.00 each for an estimated total value of P6,696,429,108 (approximately $115 million).
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