$$ in Philippines

$$ in Philippines
May 27: A group including Singapore's sovereign wealth fund GIC is among suitors that have submitted bids for New York-based Sithe Global Power LLC's /stakes in two Philippine power plants, people with knowledge of the matter said.

The consortium, including Macquarie Infrastructure Corp and Malaysian power company Malakoff Corp, submitted a non- binding offer for the stakes, the people said. The Blackstone Group LP-owned company's sale could fetch more than US$1 billion ($1.4 billion), they said, asking not to be identified as the process is private.
http://smr.theedgemarkets.com/article/gic-consortium-said-among-bidders-sithe-global-power-assets

Sithe Global Power, LLC, based in New York, NY, is an international development company involved in the construction, acquisition and operation of electric power generation facilities. The company began as Sithe Energies, Inc. in 1968 and has since become one of the largest power producers in the United States. In 2005, Blackstone Capital Partners, an affiliate of The Blackstone Group, purchased an 80 percent share of Sithe Global Power from the Reservoir Capital Group, which retained 20 percent ownership.

http://www.adb.org/countries/philippines/economyCebu is among the fastest growing provinces in the Philippines and a major contributor to the country’s economyJohn Gokongwei of JG Summit (PSE:JGS) raises $250M from share sales (16 May 25). JGS owns Cebu Air

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