11 Aug 2021
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 said pre-negotiation conference was done via the online platform.
Interested parties that attended the pre-negotiation conference were Simon Agribusiness, Manila Electric Company (MERALCO) and Philman Corporate Distribution Corporation.
This Paco-Manila property is located in Isla de Provisor, Manila. It consists of eight (8) lots with an indicative area of 20,975 square meters. Its Minimum Offer Price (MOP) is set at PHP527,087,552.00.
The Offer Submission Deadline for this asset is scheduled on 31 August 2021 at 1:00 PM.
“We are very optimistic that we can privatize this Paco-Manila property very soon. We will continue to try to sell this asset because we need to use the proceeds for payment of PSALM’s financial obligations,” says Atty. Irene Besido-Garcia, President and CEO of PSALM.
Interested Parties may download the negotiation package from the PSALM website at https://www.psalm.gov.ph/privatization/rea until two (2) business days prior to offer submission deadline. Alternatively, electronic copies of the negotiation package may also be requested through electronic mail at APD1@psalm.gov.ph or pbacsecretariat@psalm.gov.ph.
Proceeds from the sales of all PSALM assets are utilized to settle maturing obligations and minimize the Corporation's borrowings.
Strategic Communications and Partnership Division |