Aboitiz Equity Ventures Sells Stake in Power Subsidiary

Skadden is representing Philippine-listed Aboitiz Equity Ventures Inc. in its sale of a 25.01% stake in its power generation and distribution subsidiary AboitizPower Corporation to JERA, a Japanese power generation company. As part of the transaction, the Aboitiz family holding company — Aboitiz & Company — is also selling a 1.99% stake in AboitizPower to JERA. The total purchase price is approximately $1.6 billion.