News: IFN UPDATE 1-Philippines firm makes $535 mln bid for Australia's Infigen Energy

(Adds chairman comments, Infigen share move)

June 3 (Reuters) - A company part-owned by a unit of Philippine conglomerate Ayala Corp AC.PS said on Wednesday it will bid for Australian renewable energy company Infigen Energy (IFN) in a takeover offer valuing it at about A$777 million ($535 million).

UAC Energy Holdings said it intended to make an all-cash takeover offer of A$0.80 per Infigen share.

Sydney-based Infigen Energy did not immediately respond to a request for a comment.

Infigen shares were down about 27% since hitting a record high of A$0.81 in early February, as of last close. The stock rose 35.6% to meet the offer price of A$0.80 on Wednesday.

UAC Energy Holdings, which is owned by UPC Renewables Group and Ayala Corp unit AC Energy, said in a statement the acquisition was an opportunity to invest in renewable energy.

"We have ready access to capital and significant renewable energy expertise that will position us well to support Infigen’s pipeline of projects and focus on much needed renewable energy investment and associated employment in Australia," UAC Chairman Anton Rohner said.

UAC also said it had acquired a 12.8% stake in Infigen. ($1 = 1.4514 Australian dollars)