A total of 24 groups have expressed interest to join the bidding for the government’s remaining stake in the PNOC-Energy Development Corp. (PNOC-EDC).

In a disclosure to the PSE on Tuesday, PNOC-EDC provided a list of groups that submitted letters of intent in the stake sale.

The interested parties include: ABN AMRO Bank, Israeli company Africa-Israel Group, and
Iceland companies Geysir Green Energy and Reyjavik Energy Invest.

Also in the list were Japanese firms Kanematsu Corp., Orix Corp., and Sumitomo Corp. as well as Bangkok-based Suez Energy Asia Co. Ltd., and Marubeni Philippines Corp.

Likewise included were power firms Aboitiz Power Corp., Alsons Consolidated Resources Inc., ATN Holdings Inc., Basic Energy Corp. and First Gen Corp.

Also named were included were law firms law firms Latham & Watkins LLP, Belo Gozon Elma Parel Asuncion & Lucila, and Sycip Salazar Hernandez & Gatmaitan Law offices.

A local consortium of businessmen Ramon Ang, Henry Sy Jr. and Joselito Campos, Triratna Holdings Corp., was also in the list.

The PNOC-EDC Board earlier approved the block sale of the firm’s retirement fund’s shares which is equivalent to a 13% stake in the company, and the government’s 47% stake to allow the buyer to gain a controlling stake over the company.

The government plans to raise up to P36 billion from the sale, which is intended to augment the country’s budget deficit.

Source: http://www.gmanetwork.com/news/story/61898/economy/24-groups-express-intent-to-join-pnoc-edc-stake-sale