Businessman Antonio Tiu acquired additional P415.5 million worth of shares in his listed company Greenergy Holdings Inc.
Greenergy said in a disclosure to the stock exchange Tiu acquired all the shares held by Thomaslloyd Cleantech Infrastructure Fund GMBH in Greenergy. This is equivalent to 207.8 million common shares or 11.54 percent of the company from Cleantech for P415.5 million.
"As a result of the acquisition of the said shares, Tiu shall hold a total of 510.5 million common shares or equivalent to 28.35 percent of the total issued and outstanding shares of Greenergy while Cleantech will no longer hold any shares in the company,” Greenergy said.
This move is part of Tiu’s strategy to consolidate his ownership in Greenergy, which is being transformed to become a conglomerate that will be engaged in agricultural products, financial technology or fintech, clean energy, sustainable real estate and bio technology.
Cleantech is the foreign investor behind Greenergy's 20-megawatt San Carlos Biopower Plant.
The acquisition is also consistent with Tiu's vision of advancing green projects which are all resilient to the COVID-19 pandemic, with the aim of maximizing opportunities for business growth, enhancing shareholder value and more importantly, helping meet the needs of underserved Filipino consumers.
As part of the plan to transform Greenergy into a holding company, Tiu will consolidate AgriNurture’s shares in Greenergy. He will also infuse his fintech assets such as digital bank and the agri-token ecosystem into the company.
Greenergy owns 100 percent of WinSun Green Ventures, 62.3 percent of Sunchamp Real Estate Development Corp., 51 percent of the Yakuru Group and almost 20 percent of ANI.
Winsun is a developer of green energy projects and distributor of solar panels, while Sunchamp is a real estate developer focused on developing self-sustaining agri-tourism projects. It has rights over 145 hectares of land in Rosario, Batangas.
The Yakuru Group is an Australian health and wellness company that is engaged in the medical cannabis business.
The share price of Greenergy went down by 1.65 percent Wednesday to close at P2.38.