Philippine Realty and Holdings Corp. (Philrealty) has sold the bulk of its stake in a nonlife insurance firm to private investors for P191 million, the company informed the local bourse.
In a disclosure to the Philippine Stock Exchange on Thursday, Philrealty said that it has entered into an agreement with a group of private investors to sell its 70-percent stake in Meridian Assurance Corp., the company’’s nonlife insurance subsidiary.
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