Philippine First Gen said on Thursday that the mandatory offer made by KKR would bring the electricity producer's valuation to around 165.44 billion pesos. First Gen revealed on Wednesday that KKR proposed to acquire 8.43% of the company's shares from its parent company First Philippines Holdings. The power producer added that the move could trigger KKR to launch a mandatory tender offer for all 11.67% of First Gen's tradable shares. The takeover offer will support First Gen's voluntary delisting application to the Philippine Stock Exchange.

Philippine First Gen said on Thursday that the mandatory offer made by KKR would bring the electricity producer's valuation to around 165.44 billion pesos. First Gen revealed on Wednesday that KKR proposed to acquire 8.43% of the company's shares from its parent company First Philippines Holdings. The power producer added that the move could trigger KKR to launch a mandatory tender offer for all 11.67% of First Gen's tradable shares. The takeover offer will support First Gen's voluntary delisting application to the Philippine Stock Exchange.