Philippines Wealth Fund to Invest in China-Backed Grid Operator
The Philippines' sovereign wealth fund will acquire a 20% stake Synergy Grid & Development Phils. Inc., giving the government a say in the management of the China-backed grid operator.
Maharlika Investment Corp. signed a binding agreement with Synergy Grid for an undisclosed amount, according to a statement from President Ferdinand Marcos Jr.'s communications office on Monday.
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