GT Capital Holdings Inc. has bought out for P1.4 billion the majority stake in Charter Ping An Insurance Corp., a nonlife insurance firm where GT Cap’s First Metro Investment Corp. also has an interest.
A disclosure to the Philippine Stock Exchange on Tuesday showed that the George Ty-led conglomerate has acquired 2.3 million common shares of Charter Ping An at a fixed price of P614.3 a share for a total consideration of P1.4 billion.
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