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Solar energy executive Leandro Leviste plans to take over listed sugar and ethanol producer Roxas Holdings Inc. via a P5-billion investment for an initial 71.6-percent stake in the company.
The investment would help RHI service debt to avoid bankruptcy, increase tax revenues of the municipality of Nasugbu and create more and better jobs for the benefit of local farmers and former sugar industry workers, Leviste said in a Facebook post. RHI owns Central Azucarera Don Pedro, Inc. , which closed down its sugar business in February this year after 97 years in operations.
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