UnionBank to Acquire PR Savings Bank

City Savings Bank Inc. (CitySavings), the thrift banking arm of Union Bank of the Philippines (UnionBank, PSE: UBP), has signed a Share Purchase Agreement (SPA) with the ROPALI group to acquire 100% of the common shares of Philippine Resources Savings Bank (PR Savings). “This acquisition will expand our mass market reach, consistent with our vision […]
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Aboitiz Equity Ventures Earmarks PhP58.4B Capex in 2016

Taguig—(PHStocks)—High hopes on promising growth prospects for the year led Aboitiz Equity Ventures (PSE: AEV) to allocate PhP58.4 billion in capital expenditure (capex) in 2016, bulk of which will be used for its power expansion projects. “Each of our businesses has the potential for higher financial return and growth, as well as sufficient scale and […]
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AEV Approves Sale of CitySavings Stake to UnionBank

Cebu—(PHStocks)—In a special meeting today, the Board of Directors of Aboitiz Equity Ventures Inc. (PSE: AEV) has approved the proposed offer from Union Bank of the Philippines (UnionBank, PSE: UBP) to purchase all of its shares in City Savings Bank, Inc. (CitySavings), a Cebu-based thrift bank. AEV, together with its wholly owned subsidiary, Pilmico Foods […]
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AEV Records Slight Drop in 2011 Net Income

Cebu–(PHStocks)–Aboitiz Equity Ventures Inc. (PSE: AEV) ended the fourth quarter of 2011 with a consolidated net income of PhP5.1 billion, recording an increase of 2% year-on-year (YoY).  Out of the total earnings contributions from the Company’s strategic business units (SBU), Power accounted for 79%. Income share of the Banking and Food SBUs were at 15% […]
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AEV 4Q Net Income Up 107%

Aboitiz Equity Ventures Inc. (PSE: AEV) has registered a consolidated net income of PhP5 billion for the fourth quarter of 2010, up 107% from the same period in the previous year. Of the total earnings contributions from the company’s four strategic business units (SBUs), Power accounted for 90%. Income share of the Banking and Food […]
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