In a disclosure to the Philippine Stock Exchange, SMPI said the acquisition was by way of a deed of sale of shares with assignment of subscription rights from Valiant Ventures and Development Holdings Inc.
SMPI said the sale is subject to completion and submission of parties of the standard closing conditions, including corporate approvals. The acquisition was approved by the SMPI board of directors last December.
Early last year, SMPI announced that it was transferring its 31 stake in BOC to the SMC Group Retirement Fund. The transfer increased the stake of SMC Retirement Fund in the bank to 52 percent.
http://www.mb.com.ph/articles/298659/smc-raises-stake-bank-commerce
No comments:
Post a Comment