First Gen Corp. has dismissed a fresh round of allegations from the Lopez family majority against its chairman and CEO Federico “Piki” Lopez, asserting that the premium paid in merger and acquisition deals is a “standard consideration” in such transactions. The company’s statement, reported by Philstar Biz, aims to clarify the rationale behind the financial terms that have been questioned by the family group.
The Lopez family majority had raised concerns over the premium paid in certain M&A transactions involving First Gen, suggesting potential conflicts of interest and unfair pricing. However, the company’s management emphasized that such premiums are routine in M&A to reflect the strategic value, synergies, and control considerations. First Gen noted that independent financial advisors and rigorous governance processes were followed.
This latest dispute adds to ongoing tensions between the Lopez family and First Gen’s leadership. The company remains focused on its energy investments and expansion plans, with management urging stakeholders to rely on formally disclosed information rather than unsubstantiated claims. The outcome of this internal conflict could have implications for corporate governance practices in the Philippine energy sector.