OneTaipan Holdings, Inc. and Pacifica21 Holdings, Inc. completed the acquisition of Synergy Grid & Development Phils., Inc. in a reverse merger transaction.
May 27, 2021
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OneTaipan Holdings, Inc. and Pacifica21 Holdings, Inc. agreed to acquire Synergy Grid & Development Phils., Inc. (PSE:SGP) in a reverse merger transaction on November 14, 2019. Under the terms of the deal, Synergy Grid & Development Phils., Inc. will issue approximately 2.05 billion shares to OneTaipan Holdings, Inc. and Pacifica21 Holdings, Inc. each in exchange of 86.43 million and 871 million common shares respectively. The transaction was approved by the board of directors of Synergy Grid & Development Phils., Inc. on November 14, 2019 and is subject to the approval of its shareholders, antitrust body and regulatory body of Philippines. As on December 20, 2019 the transaction was approved by the shareholders of Synergy Grid & Development Phils., Inc. As on March 26, 2020 the transaction was approved by Philippine Competition Commission.
OneTaipan Holdings, Inc. and Pacifica21 Holdings, Inc. completed the acquisition of Synergy Grid & Development Phils., Inc. (PSE:SGP) in a reverse merger transaction on May 28, 2021.
Synergy Grid & Development Phils., Inc. is a Philippines-based holding company. The Company is engaged in general construction and other allied businesses. The Company operates through transmission business segment. It operates transmission services across Luzon, Visayas, and Mindanao. The Company's subsidiaries include OneTaipan Holdings, Inc. (OTHI), Pacifica21 Holdings, Inc. (P21), Monte Oro Grid Resources Corporation (MOGRC), Calaca High Power Corporation (CHPC), and National Grid Corporation of the Philippines (NGCP). The CHPC engages in the general business of operating, managing, maintaining, and rehabilitating energy systems and services from gas, steam, and electricity including related services and business activities. The NGCP operates and maintains a nationwide transmission grid throughout the Philippines to provide open and non-discriminatory access to the transmission system to all authorized electricity distributors and electricity users.
OneTaipan Holdings, Inc. and Pacifica21 Holdings, Inc. completed the acquisition of Synergy Grid & Development Phils., Inc. in a reverse merger transaction.
SYNERGY GRID & DEVELOPMENT PHILS., INC. 
