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MANILA - AgriNurture Inc. has bought into Greenergy Holdings Inc., a renewable energy company that is also owned by Antonio L. Tiu.
In a disclosure to the Philippine Stock Exchange, Greenergy said its board of directors approved the entry of AgriNurture, which bought P25 million worth of shares at a par value of P0.01 per share, equivalent to 2.5 billion shares.
Likewise, the Greenergy board approved the company's investment in Isabela Alcogas Corp. by subscribing to P25 million worth of shares, with authority to make advances up to P50 million.
Isabela Alcogas is engaged in the manufacture and trading of ethanol and other biofuels.
Formerly a semiconductor firm, Greenergy was renamed from MUSX Corp. to reflect the company’s shift to renewable energy and biofuels.
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