Monday, August 04, 2008
Ibazeta: We can close Calaca deal (10:43 a.m.)
MANILA -- A ranking official of the Power Sector Assets and Liabilities Management Corp. (Psalm) remains confident of closing the deal for the 600-megawatt Calaca coal-fired power facility.
Jose Ibazeta, present of Psalm said the August 4 "sunset date" is their internal deadline to submit their deliverables to the winning bidder, Suez Energy Asia, who won the bidding last October with a bid price of US$787 million.
"We will close the deal within the year. (Suez) has indicated to pay in full," Ibazeta said.
Helen Tolentino, Psalm vice president, said the August 4 "sunset date" is for Psalm to comply with the deliverables needed for the transaction.
"It's still within our jurisdiction to determine the date, which is most advantageous to Psalm. We have secured creditor's consent," Tolentino said in response to queries when Psalm will sign the closing transaction. (MSN/Sunnex) |
