Former Trade Minister Roberto V. Ongpin sold his stake in Philippine Bank of Communications, citing the need to make a “financial sacrifice” and spare the bank from any backlash that could arise from his legal battle with a ranking central bank official.
The largest Filipino-owned business process outsourcing (BPO) firm, SPi Global Holdings Inc., is set to be acquired by a foreign group as the former’s parent, Philippine Long Distance Telephone Co., looks to pare down its debts.
The Philippine Deposit Insurance Corp. is set to sell more acquired properties to boost resources and partly settle the liabilities of banks that failed and were placed under its receivership.
The Philippine Deposit Insurance Corp. said the planned sale of the commercial banking license of Export & Industry Bank would not take place this year, and rescheduled it for early 2013.
Local banking giant Metropolitan Bank and Trust Co. is selling its 30-percent stake in Toyota Motor Philippines to parent conglomerate GT Capital Holdings for P9 billion.
Philippine Airlines said Friday it was in talks to sell a stake in the loss-making flag carrier to local conglomerate San Miguel.
Philippine Airlines (PAL) has clarified reports quoting its chairman, taipan Lucio Tan, hinting at the entry of new shareholders that could spell a change in control of the storied flag carrier.
The government is well prepared to deal with the possible sale of the 700-megawatt Agus-Pulangi hydropower complex to the private sector—a decision that still has to be made by the Joint Congressional Power Commission (JCPC), Energy Secretary Jose Rene D. Almendras said.
Conglomerate San Miguel Corp. has permanently shelved plans to pursue the $1-billion conversion of the 620-megawatt Limay combined cycle facility in Bataan, and is now preparing to sell the power asset to a group of investors. San Miguel president Ramon S. Ang confirmed that the company would let go of the Limay power plant after [...]
Cebu Pacific is offering a seat sale for international flights from Clark and Manila, and domestic flights from Manila, Cebu, Zamboanga and Cagayan de Oro from August 10 to 12, or until seats last. This is for travel from Sept. 1 to Oct. 31, 2011. Up for grabs are P488 seats from Manila to Cebu; [...]
The government is considering selling another P35 billion to P40 billion worth of Retail Treasury Bonds (RTBs) in the fourth quarter to meet expected additional demand from individual investors. Deputy Treasurer Eduardo Mendiola on Monday said this, noting that the move was also aimed at encouraging more Filipinos to invest. Unlike regular treasury bonds, RTBs [...]
The Bangko Sentral ng Pilipinas is selling Evercrest Golf Club Resort, a prime property development in Batangas that it took over from the former Orient Bank, for at least P1.736 billion. The property was appraised at P1.2 billion about three years ago, but the central bank said its latest valuation now was much higher when [...]
