• SM to acquire 10 property firms


    SM Investments Corp. (SMIC) has sealed a share-purchase deal with CPI Asia Ten B.V. to acquire various property firms in the country.

    In a disclosure to the Philippine Stock Exchange on Wednesday, SMIC disclosed that it entered into a share purchase agreement with CPI Asia Ten for the acquisition of its entire stake in various property companies in the Philippines.

    “The final amount of the consideration shall be determined at a later date and shall be subject to the execution of the proper implementing agreements,” the company stated in the disclosure.

    The SMIC board has passed a resolution and signed a share-purchase deal for the entire stake of CPI Asia Ten in the following property companies: Crescent Park 14-678 Property Holdings Inc.; 14-678 Property Holdings Inc.; Crescent Park 6-24 Property Holdings Inc.; 6-24 Property Holdings Inc.;

    Crescent Park 18-2 Property Holdings Inc.; 18-2 Property Holdings Inc.; Crescent Park 6-3 Property Holdings Inc.; 6-3 Property Holdings Inc.; Crescent Park 19-1 Property Holdings Inc. and 19-1 Property Holdings Inc.


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