Published January 22, 2019, 10:00 PM
By Myrna M.
Velasco
State-run Power Sector Assets and
Liabilities Management Corporation (PSALM) is inviting all interested investors
for its propounded negotiated deal for a property which was previously a site
for the Manila thermal power facility.
But prior to the company’s plunge
into a negotiated pact for this privatization exercise, the company is
scheduling a pre-negotiation conference this today at 2:00pm; that will then apprise
all concerned parties on the terms of the sale under such arrangement.
PSALM noted that during this
process, it will clarify issues that “interested parties may have on the terms
and provisions of the negotiated sale of the Manila thermal power plant land.”
For the specified real estate asset,
the due diligence process is slated until January 29 this year; while
submission of offers is on January 31 with a 12:00 noon deadline.
At the pre-negotiation conference,
the company said it will be soliciting insights of interested parties “to help
further refine the negotiation documents and provide proper information to
assist them with submitting an offer that complies with the requirements.”
PSALM added that prospective
investors will also “be informed of the responsibilities of the winning party
in view of the circumstances underlying the sale of the property.”
Divestment of real estate assets
previously owned by the National Power Corporation had become an added main
thrust of privatization for PSALM so it can raise additional proceeds that can
help wipe out what remains as humongous liabilities of the power sector.
Aside from the site of the Manila
thermal plant, PSALM has previously identified several properties that it will
also be unloading in the coming months.
PSALM had previously announced the
sale of a parcel of property in Naga City in the Bicol region; and two
condominium units in Puerto Azul complex in Cavite City that will include one
club share at the Puerto Azul Golf and Country Club.
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