Billionaire Razon to buy 60% stake in First Gen’s gas assets for P50 billion

: Enrique Razon Jr, chairman of Bloomberry Resorts Corporation, smiles during a Reuters interview inside his office in Port Area, Metro Manila December 17, 2012. (Reuters/Romeo Ranoco/File Photo)

Prime Infra, the infrastructure business arm of Filipino businessman Enrique K. Razon Jr., is buying 60% of the gas assets of First Gen Corp FGEN.PS for 50 billion pesos ($896.44 million), the Philippine energy firm said on Monday.

($1 = 55.7760 Philippine pesos)

—Reporting by Rishav Chatterjee in Bengaluru; Editing by Rashmi Aich

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