BDO Acquires Rural Bank of Pandi

BDO Unibank Inc. (BDO), through its subsidiary One Network Bank Inc. (ONB), has signed an agreement with Rural Bank of Pandi Inc. (RBPI) for the acquisition of the latter’s banking business in Bulacan. The transaction is seen to provide ONB a stronger presence in the province and fast track its expansion in Central Luzon, one […]
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ANA Holdings Acquires Stake in PAL

ANA Holdings Inc. (ANA HD), parent of All Nippon Airways (ANA), Japan’s largest and 5-star airline for six consecutive years, will invest $95 million in PAL Holdings Inc. (PSE: PAL) and acquire 9.5% of PAL Holdings’ outstanding shares. PAL Holdings is the parent of Philippine Airlines Inc. (PAL), the Philippine flag carrier and the largest […]
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RCBC Board Approves Merger with RCBC Savings Bank

The board of directors of Rizal Commercial Banking Corp. (RCBC, PSE: RCB) has approved the merger of RCBC Savings Bank into RCBC, subject to regulatory approvals. RCBC Savings Bank, a thrift bank, is 100% owned by RCBC. The proposed transaction will facilitate for the RCBC Group the following objectives: (1) more efficient capital deployment; (2) […]
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Ayala Education Unit to Merge with iPeople

Ayala Corp. (PSE: AC), AC Education Inc., House of Investments Inc. (PSE: HI), and iPeople inc. (PSE: IPO) signed the definitive agreements for the merger of AC Education with iPeople. The merger, which shall be completed as a statutory merger in accordance with Philippine law, shall be subject to the approval of the stockholders of […]
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Asiabest Group Share Purchase Agreement with Tiger Resort Asia

A group of shareholders of Asiabest Group International Inc. (PSE: ABG) and Tiger Resort Asia Ltd have signed a share purchase agreement. Tiger is a Hong Kong corporation and is currently the majority shareholder of Tiger Resort, Leisure and Entertainment Inc. doing business under the name and style of Okada Manila. Under the agreement, the […]
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Robinsons Retail Ups Stake in Ministop Philippines

Robinsons Retail Holdings Inc. (PSE: RRHI), through its wholly-owned subsidiary, Robinson’s Inc., entered into a share purchase agreement with Mitsubishi Corp. for the sale of the latter’s shares in Robinsons Convenience Stores Inc. (RCSI). The transaction involves Robinson’s purchase of shares from Mitsubishi, which is equivalent to approximately 8% stake in RCSI. Robinsons Retail’s effective […]
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Substantial Acquisitions of PHA Subsidiary

Redstone Construction & Development Corporation (RCDC), an 80% subsidiary of Premiere Horizon Alliance Corp. (PSE: PHA), has acquired 98.88% of Pyramid Hill Mining Industrial Corp. through a conversion of advances from RCDC amounting PhP220 Million, and 98.55% of Palawan Star Mining Ventures through a conversion of advances from RCDC amounting PhP170 million. Both companies are […]
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