Maharlika to acquire a 20% stake in Synergy Grid and Development Philippines.

Maharlika, the Philippines’ sovereign wealth fund manager, agreed to acquire a 20% stake in Synergy Grid and Development Philippines, a transmission services provider. Financial terms were not disclosed. “Congratulations, everyone. I know it wasn’t easy. I think, in the end, we found a good solution to everyone’s concern. Once the acquisition is completed, we shall be entitled to two out of nine seats in the SGP board, after the total seats are increased from seven to nine. At NGCP, the government gains representation through two out of 15 board seats, following an increase in the total seats from 10 to 15,” Ferdinand R. Marcos Jr, the Philippines President.