AC Industrials Completes Acquisition of 94.9% Stake in MT Misslbeck

Makati—(PHStocks)—AC Industrial Technology Holdings Inc. (AC Industrials), a wholly-owned subsidiary of Ayala Corp. (PSE: AC), completed through AC Industrials (Singapore) Pte Ltd the acquisition of 94.9% of MT Misslbeck Technologies GmbH (MT) in a transaction valued at €26.8 million total enterprise value. This investment forms part of AC Industrials’ strategy to increase its competence and […]
Continue reading…

 

Phoenix Petroleum Board Approves Acquisition of PDB’s LPG Business in the Philippines

Davao—(PHStocks)—The Board of Directors of Phoenix Petroleum Philippines Inc. (PSE: PNX) has announced that on July 5, 2017 it has approved and authorized the execution of two agreements for the purchase of: (1) 100% shares owned by PDB Netherlands in Petronas Energy Philippines Inc. (PEPI); and, (2) 100% shares in Duta Inc., for a total […]
Continue reading…

 

Agrinurture Increases Stake in Fucang

Bulacan—(PHStocks)—On 4 July 2017, Agrinurture Inc. (PSE: ANI) entered into an agreement with Liang Shunming for the acquisition of all of his rights, title and interest in and to additional 2.00% of the total registered capital of Zongshan Fucang Trade Co. Ltd, a company engaged in agri commodity trading with various investments in rural real estate […]
Continue reading…

 

PhilWeb Subsidiary Acquires PAGCOR e-Games Site in Mandaue

Makati—(PHStocks)—PhilWeb Corp. (PSE: WEB), thru its subsidiary BigGame Inc., has acquired 100% ownership of a PAGCOR e-Games site in Mandaue City from Noel C. Basubas by giving the latter 150,000 PhilWeb common shares, at a price of PhP11.00 per share, for his 49% ownership in said site. Related Articles:PhilWeb 2015 Net Income Hits PhP870MPhilWeb Declares […]
Continue reading…

 

PLDT Sells Stocks in Beacon Electric Asset to MPIC

Makati—(PHStocks)—PLDT Communications and Energy Ventures (PCEV), a 99.9% subsidiary of Smart Communications Inc.—which is a wholly owned subsidiary of PLDT Inc. (PSE: TEL)—is selling common and Class A preferred shares of stock in Beacon Electric Asset Holdings Inc. (BEAHI) to Metro Pacific Investments Corp. (MPIC, PSE: MPI). BEAHI is a joint venture company formed by MPIC and PCEV. […]
Continue reading…

 

MPIC Ups Stake in MERALCO and Global Power

Manila—(PHStocks)—Metro Pacific Investments Corp. (MPIC, PSE: MPI) and PLDT Communications and Energy Ventures (PCEV), a 99.9% subsidiary of Smart Communications Inc.—which is a wholly owned subsidiary of PLDT Inc. (PSE: TEL)—have entered into a Sale and Purchase Agreement for MPIC to acquire a further 25% interest in Beacon Electric Asset Holdings, which owns 35% of Manila […]
Continue reading…

 

Xurpas Updates on Share Purchase Agreement

Makati—(PHStocks)—On October 6, 2016, Xurpas Inc. (PSE: X) signed a share purchase agreement with Emmanuel Michel Jean Allix and Wavemaker Labs Pte Ltd for the acquisition of 100% stake in Art of Click Pte Ltd (AOC), a company registered under the laws of Singapore and engaged in the business of mobile media agency that offers […]
Continue reading…

 

MARC to Merge with Asia Pilot

Makati—(PHStocks)—On 04 June 2017, Marcventures Holdings Inc. (PSE: MARC) and the shareholders of Asia Pilot Mining Philippines Corp. (Asia Pilot) entered into a term sheet in relation to their agreement to merge Asia Pilot, BrightGreen Resources Holdings Inc. (BHI) and MARC with the latter as the surviving entity. MARC agreed to issue six hundred seventy […]
Continue reading…