Decree № 40, which nationalized the country's electric generation and transmission. A few more weeks after that, Marcos had Lopez' son and namesake, Eugenio "Geny" Lopez, Jr. arrested without formal charges, claiming that the younger Lopez had been involved in an alleged assassination attempt against him. Geny's arrest became a bargaining chip which eventually compelled the Lopezes to sell their controlling share of Meralco Securities Corporation to Marcos' associates late in 1973. Ownership of Meralco Securities Corporation was placed under a newly created shell company called the Meralco Foundation, Inc., controlled by Marcos' brother-in-law Benjamin Romualdez, which made a downpayment of about $1,500 for a "very minimal" total sale price of about $28 million (200 million pesos at the prevailing rate). Installment payments were supposed to be due starting two years later. The Meralco Foundation takeover was immediately followed by a 100% increase in electric rates, with continuous increases throughout Romualdez' management. A rate adjustment clause, which allowed MERALCO to adjust its rates depending on crude oil increase or higher dollar exchange rates, was also introduced. In 1977, MSC was renamed First Philippine Holdings Corporation. By 1978, all of the Philippines' major power plants were owned and operated by Napocor, including the Metro Manila plants that MERALCO had built beforehand in the 1960s. By the end of the Martial Law period in 1981, MERALCO expanded even further into Cavite and western parts of Laguna, Rizal and Quezon provinces, as well as parts of southern Bulacan. Meralco Foundation's control of MERALCO lasted until the People Power Revolution in 1985 when it defaulted on its payments under the terms of the original turnover of shares in 1973, although it took a five year period before the shares were eventually reverted to the Lopezes in 1991. After martial law President Corazon Aquino reverted company ownership to the López Group. She also enacted an executive order that allowed the company to directly compete with Napocor. On March 18, 1989, MERALCO unveiled its new and current corporate logo. Entry of First Pacific and JG Summit groups Between 2009 and 2012, the López Group would reduce its 33.4% holdings in MERALCO by selling most of its shares to the First Pacific Group. By 2012, the López Group's holdings in MERALCO would be reduced to 3.95%. The First Pacific Group, through Beacon Electric Asset Holdings Inc. and Metro Pacific Investment Corporation, currently holds 45.46% share in MERALCO,