In an apparent effort to consolidate its assets in the natural gas industry, diversified tycoon Enrique Razon-led Prime Infrastructure Capital Inc. has struck a deal to buy 60 percent of the Lopez group's First Gen Corp. for at least P50 billion.

The deal marks a significant development in the energy sector with a strategic partnership between two of the country’s most prominent business groups—the Razon and Lopez families.

The move strengthen their foothold in the natural gas market, which is increasingly vital for the Philippines’ energy security and transition to cleaner energy sources.