Coal Asia Holdings, Inc. (COAL) announced that its major shareholders have entered into a Share Purchase Agreement (SPA) with Pure Energy Holdings Corporation (PEHC), Pure Water Corporation (Pure), and Quadwater Corporation (Quad) for the sale of 28.67 billion common shares. This represents 71.68% of the company’s total issued and outstanding capital stock.
In a disclosure to the Philippine Stock Exchange (PSE), Coal Asia said the transaction is valued at PHP 220,913,137.00 and involves the following share distribution:
- Pure Energy Holdings Corp. (PEHC) – 4.99 billion shares, equivalent to 12.48% of COAL’s issued and outstanding capital stock;
- Pure Water Corp. (Pure) – 11.84 billion shares, equivalent to 29.60%; and
- Quadwater Corp. (Quad) – 11.84 billion shares, likewise 29.60%.
Coal Asia identified the selling shareholders as Dexter Y. Tiu, Eric Peter Y. Roxas, Gertim G. Chuahiong, Alexander Y. Tiu, and John L. Capinpin.
The parties expect to finalize the transaction before the end of 2025, subject to the satisfaction of pre-completion conditions, including the fulfillment of any mandatory tender offer requirements by the buyers to other Coal Asia shareholders.
The disclosure added that Pure is a subsidiary of PEHC, while Quad is not affiliated with either company. PEHC, Pure, and Coal Asia also have interlocking directors—Dexter Y. Tiu, Eric Peter Y. Roxas, and Gertim G. Chuahiong.
Pure Energy Holdings Corporation (PEHC) is a Philippine investment holding company engaged in renewable energy, water supply, and infrastructure development. PEHC’s subsidiaries include Pure Water Corporation, which focuses on bulk water supply and distribution projects, and Repower Energy Development Corporation (REDC), which develops and operates renewable energy facilities such as hydropower plants.
PEHC also maintains equity participation in Tubig Pilipinas Group, Inc. through its subsidiaries Pure Water Corporation and Quad Water Corporation.
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