Aboitiz-led Union Bank of the Philippines has obtained board approval to take over 99.54 percent of 32-branch Cebu-based thrift bank City Savings Bank (CitySavings) for P5.7 billion.
The proposed government takeover of the Metro Rail Transit (MRT) train line, which deviates from the existing policy of privatizing infrastructure projects, is now up for the President’s approval.
Transportation and Communications Secretary Joseph Emilio Abaya on Thursday said the MRT takeover, spearheaded by the Department of Finance, was now “in its advanced stages and just a few steps away from fruition.”
The government is preparing to take over the Metro Rail Transit (MRT) line 3 as it draws up plans to buy out private groups invested in the commuter train system.
Infrastructure holding firm Metro Pacific Investments Corp. has inked a deal to acquire the controlling stake of Thai hospital group Bumungrad in the upscale 219-bed Asian Hospital in Filinvest Corporate City, Alabang.
