Leviste offloading stake in SPNEC, affiliates

Leviste selling stake in SPNEC, affiliates

/ 01:33 PM June 25, 2025

Leviste-led Solar PH in danger of losing 21 gov’t deals

Founder, President and CEO of Solar Philippines, Leandro Leviste | PHOTO: Official website of SM / My Story, My SM

MANILA, Philippines – Businessman Leandro Legarda Leviste is selling his stake in SP New Energy Corp. (SPNEC) and affiliates before assuming the post as Batangas 1st district representative.

READ: SPNEC logs P 12.39-M net loss in Q1 2025

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In a statement, Solar Philippines said its founder had sealed a fresh deal with Meralco PowerGen Corp. (MGen) for the sale of 5.01 billion SPNEC shares for P6.26 billion.

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This was on top of previous agreements with MGen where Leviste sold 9.59 billion shares for P12 billion.

“Leviste is currently considering options for other private placements and financing on the remaining SPNEC shares of Solar Philippines and affiliates,” the firm said./tad

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TAGS: Leandro Leviste, spnec

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