Philippine-based bank Rizal Commercial Banking Corp (RCBC) has completed the sale of its 65% stake in credit card issuer Bankard Inc to RYM Business Management Corp, according to a disclosure to the Philippine Stock Exchange.
Philippines
Philippine firm RFM acquires Royal brand from Unilever in $47.8M deal
Philippine-based food and beverage manufacturer RFM Corp bought the Royal brand and pasta business from UK-based firm Unilever Group in a deal valued at approximately $47.8 million (PHP2.1 billion).
Metro Pacific hikes Manila tollway stake in PHP1.42B deal
Philippine-based tollway developer Metro Pacific Tollways Development Corporation (MPTDC) acquired France-based tollway operator Egis Project SA stake in Manila North Tollways Corporation (MNTC) for PHP1.42 billion.
Millennium Global takes controlling stake in Philippine seafood explorer Millennium Ocean
UK-based institutional currency investment manager Millennium Global Holdings Inc acquired a 51% stake in Philippine-based seafood exports business Millennium Ocean Star Corp in a deal valued at PHP137.91 million.
Philippine firm Filinvest acquires idle GSIS property for PHP771M
Philippine-based real estate firm Filinvest Land Inc bought an idle property in Ortigas Center, Pasig City, from state-run Government Service Insurance System in a deal valued at PHP771.5 million.
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Asian Development Bank President Takehiko Nakao expressed his confidence about Asia's economy should US Federal Reserve proceed with its plans to reduce its quantitative easing program.
Singapore-based asset management company Black River Capital Partners Food Fund Holdings (Singapore) Pte Ltd has increased its holding in Philippine-based food exporter AgriNurture Inc, according to a stock exchange disclosure.
SMC Global Power Holdings Corp, the holding firm for San Miguel Corp's power generation assets, is eyeing for an initial public offering in 2014. SMC Global Power aborted its listing in September, citing adverse market conditions.
A survey from Jana, a mobile platform that connects brands with consumers in the emerging markets, revealed that a good number of respondents from Asian countries know about the Bitcoin.
The Max's Group of Companies has bought Philippine-based casual dining chain operator Pancake House Inc prior to the former's local stock market debut, in a deal valued at almost PHP3.9 billion.
Lucio Tan, the chairman and chief executive of Philippine Airlines Inc (PAL) is expected to finalize the majority stake sale in the flag carrier next year with San Miguel Corp (SMC).
Philippine-based conglomerate GT Capital Holdings Inc bought more than 40% of car dealership Toyota Manila Bay Corp (TMBC) in a deal valued at PHP502.25 million.
Philippine conglomerate Ayala Corp has bought 140 million common shares of Mitsubishi Corp's equity in Manila Water Company Inc for PHP2.8 billion, according to an emailed statement.
Robinsons Retail Holdings Inc. has bought Beauty Skinnovations Retail Inc. (BSRI) for an undisclosed sum. BSRI operates the Philippine stores of Japan's Shiseido Co. Ltd. and US' Benefits Cosmetics LLC.
