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SPC Power Corp. executed a share purchase agreement for the sale of its 39.9-percent interest in Bohol Light Co. Inc. to businessman Enrique Razon Jr.’s Primelectric Holdings Inc. for P199 million.
Bohol Light is a distribution utility engaged in distributing electricity within its franchise area covering Tagbilaran City. SPC said that on Aug. 22, 2024, the company, together with other selling shareholders and Primelectric executed the sale and purchase agreement for 70 percent of total and outstanding shares in Bohol Light, which includes its 29.925 common shares. The remaining 30 percent is held by the Bohol provincial government.
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