Electricity Generating Public Company Limited or EGCO Group successfully completed the divestment transaction of its interest in the Masinloc power plant in the Philippines, immediately recognizing a base consideration worth USD850 million.

Mr. Jakgrich Pibulpairoj, President of EGCO Group said that “Gen Plus B.V., a wholly-owned subsidiary of EGCO Group, completed the transfer of its 49% indirect ownership interest in Masinloc Power Partners Co. Ltd. to SMC Global Power Holdings Corp. on March 20, 2018. Accordingly, EGCO Group recognized the proceeds from the divestment transaction worth USD850 million,  EGCO Group plans to use these proceeds for new investment projects in the future.