BDO Unibank Inc., the country’s largest lender by assets and controlled by the SM Group, said Wednesday its merger with The Podium Complex Inc., valued at P7.08 billion, will take effect on 1 December. BDO will be the surviving entity after the merger.
Shareholders of Podium, formerly known at SM Keppel Land Inc., will get a total 52.2 million BDO shares, each valued at P130.50.
Podium developed and manages the Podium Mall and West Tower along ADB Avenue in Mandaluyong City.
BDO has secured all the regulatory and shareholder approvals needed to complete the merger.
