Philippine power generation company First Gen Corporation has confirmed the existence of a "poison pill" provision in its natural gas partnership with billionaire Enrique "Ricky" Razon's Prime Infrastructure Capital, which would allow Razon to purchase First Gen's assets at a 25% discount if current CEO Federico "Piki" Lopez is removed from leadership. The clause, embedded in a joint hydropower development deal worth tens of billions of pesos, was publicly revealed by a rival faction of the Lopez family — one of the Philippines' most powerful business dynasties — who accused Piki of self-dealing at the expense of shareholders. The disclosure deepens an already bitter intra-family corporate battle over control of Lopez, Inc. (the conglomerate that controls First Gen), with critics arguing the provision effectively makes it financially prohibitive for the board to exercise its governance authority and replace current management.