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Business deals

Philippine billionaire Razon eyes takeover of Malampaya gas project

Potential deal comes amid Duterte donor Dennis Uy's stalled buyout bid

Billionaire Enrique Razon wants to take control of the Malampaya gas field, a crucial energy project in the Philippines. (Source photo by Shell and Getty Images)

MANILA -- Philippine billionaire Enrique Razon has launched a bid to take control of the Malampaya gas project, a crucial energy source for the country that has been a target for takeover by tycoon Dennis Uy, a campaign donor to outgoing President Rodrigo Duterte.

Razon, whose businesses span ports, casinos and infrastructure, intends to buy a majority stake in the Malampaya natural gas-to-power project, according to a statement by Razon-led Prime Infra Holdings on Thursday. Terms of the deal remain unclear.

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