Market Chatter: Macquarie, GIC Mull Disposal of 30% Stake in Philippines' Energy Development Corp for $2 Billion

MT Newswires Live10-24

Australia's Macquarie Group (ASX:MQG) and Singapore's sovereign wealth fund GIC are considering a disposal of its roughly 30% stake in Philippine company Energy Development Corp (EDC) for an estimated $2 billion, Reuters reported on Oct. 22, citing two sources familiar with the matter.

Talks with advisors are in a preliminary stage, according to the unnamed sources.

A Macquarie Asset Management-led consortium, including GIC affiliate Arran Investment, acquired a stake in the renewable energy firm in 2017. It offered to pay roughly $1.3 billion for up to 31.7% of EDC.

Macquarie Group, GIC, and EDC did not immediately respond to a request from MT Newswires for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (AUD): $234.09, Change: $+1.9, Percent Change: +0.83%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2477548560?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-24 10:16","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2477548560","market":"sh","top_or_hot":-1,"title":"Market Chatter: Macquarie, GIC Mull Disposal of 30% Stake in Philippines' Energy Development Corp for $2 Billion","media":"MT Newswires Live","content":"<html><body><p> Australia's <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a> Group (ASX:MQG) and Singapore's sovereign wealth fund GIC are considering a disposal of its roughly 30% stake in Philippine company Energy Development Corp (EDC) for an estimated $2 billion, Reuters reported on Oct. 22, citing two sources familiar with the matter.</p><p>Talks with advisors are in a preliminary stage, according to the unnamed sources.</p><p>A Macquarie Asset Management-led consortium, including GIC affiliate Arran Investment, acquired a stake in the renewable energy firm in 2017. It offered to pay roughly $1.3 billion for up to 31.7% of EDC.</p><p>Macquarie Group, GIC, and EDC did not immediately respond to a request from MT Newswires for comment.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p><p>Price (AUD): $234.09, Change: $+1.9, Percent Change: +0.83%</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Chatter: Macquarie, GIC Mull Disposal of 30% Stake in Philippines' Energy Development Corp for $2 Billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Chatter: Macquarie, GIC Mull Disposal of 30% Stake in Philippines' Energy Development Corp for $2 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-24 10:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Australia's Macquarie Group (ASX:MQG) and Singapore's sovereign wealth fund GIC are considering a disposal of its roughly 30% stake in Philippine company Energy Development Corp (EDC) for an estimated...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GIC","symbol_name":"Global Industry Company","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2477548560","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477548560","pubTimestamp":1729736192,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Australia's Macquarie Group  and Singapore's sovereign wealth fund GIC are considering a disposal of its roughly 30% stake in Philippine company Energy Development Corp  for an estimated $2 billion, Reuters reported on Oct. 22, citing two sources familiar with the matter.Talks with advisors are in a preliminary stage, according to the unnamed sources.A Macquarie Asset Management-led consortium, including GIC affiliate Arran Investment, acquired a stake in the renewable energy firm in 2017. It offered to pay roughly $1.3 billion for up to 31.7% of EDC.Macquarie Group, GIC, and EDC did not immediately respond to a request from MT Newswires for comment.Price : $234.09, Change: $+1.9, Percent Change: +0.83%","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"GIC":"Global Industry Company","EDC.AU":"EILDON CAPITAL LTD","BK4125":"广播","BK7062":"资产管理与托管银行","SES.SI":"Shanaya","MQG.AU":"Macquarie","BK7511":"ESG概念","BK4104":"贸易公司与经销商","BK7046":"综合性资本市场","EDC":"新兴市场ETF-Direxion三倍做多","AUD":"Audacy Inc."},"translate_title":"市场传闻：麦格理、GIC考虑以20亿美元出售菲律宾能源开发公司30%的股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AUD":1,"EDC":1,"EDC.AU":1,"GIC":1,"MQG.AU":1,"SES.SI":1},"content_text":"Australia's Macquarie Group (ASX:MQG) and Singapore's sovereign wealth fund GIC are considering a disposal of its roughly 30% stake in Philippine company Energy Development Corp (EDC) for an estimated $2 billion, Reuters reported on Oct. 22, citing two sources familiar with the matter.Talks with advisors are in a preliminary stage, according to the unnamed sources.A Macquarie Asset Management-led consortium, including GIC affiliate Arran Investment, acquired a stake in the renewable energy firm in 2017. It offered to pay roughly $1.3 billion for up to 31.7% of EDC.Macquarie Group, GIC, and EDC did not immediately respond to a request from MT Newswires for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price (AUD): $234.09, Change: $+1.9, Percent Change: +0.83%","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2477548560"}