M&A Deal Summary

Ayala Acquires GNPower Mariveles Coal Plant

On December 17, 2012, Ayala acquired utilities company GNPower Mariveles Coal Plant from Denham Capital for 155M USD

Acquisition Highlights
  • This is Ayala’s 1st transaction in the Utilities sector.
  • This is Ayala’s largest (disclosed) transaction.
  • This is Ayala’s 1st transaction in Philippines.

M&A Deal Summary
Date 2012-12-17
Target GNPower Mariveles Coal Plant
Sector Utilities
Buyer(s) Ayala
Sellers(s) Denham Capital
Deal Type Add-on Acquisition
Deal Value 155M USD

Target

GNPower Mariveles Coal Plant

Manila, Philippines
website
GNPower Mariveles Coal Plant Ltd. Co. (GMCP) was established in 1997 to develop, own and operate power generation projects and associated facilities in the Philippines. The Company is in the late stages of development of a 2x300MW coal-fired power plant (Mariveles) on Luzon Island. The plant will sell a significant portion of its output under long-term contracts to local counterparties. GNPower is headed by two local professionals who have developed, built, and financed power projects in the Philippines and the Asia-Pacific region.

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Buyer(S) 1

Buyer

Ayala

Makati City, Philippines

website

Category Company
Founded 1834
Sector Energy Services and Equipment
Revenue 202.3B USD (2020)
DESCRIPTION

AC Energy is a wholly-owned subsidiary of Ayala, the holding company of one of the Philippines' oldest and most respected business groups. Ayala was founded in 1834 and is headquartered in Makati, the Philippines.

DEAL STATS #
Overall 1 of 2
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 1 of 2
Country (Philippines) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-05 MT Technologies

Ingolstadt, Germany

MT Technologies is an auto parts maker which specializes in designing and manufacturing injection molds for metal and plastic car parts. It also produces automotive plastic parts for prototyping and serial production. MT Technologies was established in 1869 and is based in Ingolstadt, Germany.

Buy -

Seller(S) 1

SELLER

Denham Capital

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2004
PE ASSETS 9.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Denham Capital Management is a specialist private investment firm focused on the energy and commodities sectors. Denham looks to invest in businesses and assets involving natural resources, metals and mining, power and utilities, and energy-related infrastructure and services. Denham will consider investments worldwide, with current projects in the US, Canada, South America, Europe, and Asia. Denham will also consider both development projects as well as mature, operating businesses. The Firm's target investment size is $50 to $200 million. Denham Capital Management was founded in 2004 and has offices in Boston, Houston, London, and Pert.

DEAL STATS #
Overall 11 of 21
Sector (Utilities) 2 of 2
Type (Add-on Acquisition) 5 of 11
Country (Philippines) 1 of 1
Year (2012) 3 of 3
Size (of disclosed) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-07 Big Island Carbon

Kailua-Kona, Hawaii, United States

Big Island Carbon manufacturers premium grade granular activated carbon. Our raw materials, proprietary technology, and sustainable practices create a unique product with an indisputable advantage for select global partners. Big Island Carbon was founded in 2009 and is based in Kailua-Kona, Hawaii.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-01 Santiago Metals

Santiago, Chile

Santiago Metals is a mining company that creates and adds value to its shareholders and the community, through the acquisition and development of mining businesses in Chile. Santiago Metals was founded in 2013 and is based in Santiago, Chile.

Buy -
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