LISTED hotel and resorts operator Discovery World Corp. (DWC) said on Wednesday that its board has approved the full acquisition of its subsidiary Balay Holdings, Inc. in line with its goal to expand its business portfolio.

In a disclosure, Discovery World said it shall subscribe to 26.2 million shares in Balay Holdings with par value of P1 per share, or a total of P26.2 million. The shares to be acquired represent 100 percent of Balay’s total outstanding shares.

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