PSALM conducts pre-negotiation conference for the sale of the Paco-Manila Property
The Power Sector Assets and Liabilities Management Corporation (PSALM) has conducted a pre-negotiation conference for the third round of negotiated sale process for its Paco-Manila property on 10 August 2021. This activity ensured that the interested parties are well-acquainted with the refinements of the sale provisions, including the requirements and the process involved in PSALM’s negotiated sale process....
The Power Sector Assets and Liabilities Management Corporation (PSALM) invites interested parties to participate in the third round of negotiated sale process and to submit offers for its Paco-Manila Property with a minimum offer price (MOP) of PHP527,087,552.00. Financial offers lower than the current MOP will be rejected outright. The offer submission deadline for this asset is set on 31 August 2021, 12:00 noon at the PSALM office....
The Power Sector Assets and Liabilities Management Corporation (PSALM) has approved the request of Fort Pilar Energy, Inc. (FPEI) to assign its right to purchase the 650-megawatt Malaya Thermal Power Plant (Malaya TPP) and its underlying land to its wholly owned subsidiary named Belgrove Power Corporation (Belgrove). FPEI is the winning bidder in the privatization process conducted by PSALM for Malaya TPP last month....
PSALM trims debt to P357.7 billion as of May (Danessa O. Rivera, The Philippine Star)
State-run Power Sector Assets and Liabilities Management Corp. (PSALM) has reduced its debts to P357.75 billion as of end-May this year....
PSALM receives the purchase price & completes the sale of Malaya
The Power Sector Assets and Liabilities Management (PSALM) Corporation received today from Belgrove Power Corporation (Belgrove) the amount of PhP3,123,500,000.00 representing the entire purchase price for the 650-megawatt Malaya Thermal Power Plant (MTPP) and its underlying land. PSALM also received from Belgrove the amount of PhP1,062,156,423.99 as payment for the fuel inventory remaining in the MTPP. In view of the receipt of said amounts, PSALM and Belgrove executed the Deed of Absolute Sale concluding the sale transaction for the MTPP and its land. ...