Rizal Commercial Banking Corp. of the Yuchengco Group of Companies is disposing its wholly-owned real estate subsidiaries to Gotianun-led Filinvest Land Inc. (FLI).
The listed bank said in a disclosure to the Philippine Stock Exchange (PSE) that its Board of Directors approved the proposed sale and transfer of shares held in Niyog Property Holdings Inc. (NPHI) and Cajel Realty Corp. to FLI.
Both NPHI and Cajel are 100 percent owned by RCBC.
According to RCBC, the sale is subject to completion of FLI’s due diligence and compliance with conditions to be agreed by the parties.
