Corporate
Leviste, MVP commit to acquire Roxas Holdings
The Leandro Antonio L. Levite-led Countryside Investments Holdings Corp. has signed a term sheet pact with Manuel V. Pangilinan to invest an initial P5 billion for 71.6 percent in publicly-listed firm Roxas Holdings Inc.
Foreign exchange adjustments halved San Miguel 1Q net income
San Miguel Corp., a listed diversified conglomerate, reported a 50 percent drop in first-quarter net profit to P8.89 billion due to foreign exchange adjustment.
Ayala Group sells remaining stake in Manila Water to Razon’s Trident Water for P14.5 billion
Nearly three decades after aggressively going after the East concession offered during the privatization of Metropolitan Waterworks and Sewerage System in 1997, Ayala Corp. has decided to divest itself of Manila Water Co. Inc., the listed water utility it built in an area that covered its major real estate development and eventually extend its foot print beyond the Philippines.
Earthquake in Sarangani undermines earnings of Alsons Consolidated
A strong earthquake that hit Sarangani province in December sent shock waves that undermined the earnings of Alsons Consolidated Resources, a publicly listed company of the Alcantara Group., in the first quarter.
Manila Water sells to SMC affiliate stakes in Bulacan water firms for P1 billion
Manila Water Co. Inc. subsidiary Filipinas Water Holdings Corp. (FWHC) is selling 90 percent of its holdings in Bulakan Water Co. Inc. (BWCI) and a similar stake in Obando Water Co. Inc. (OWCI) to SMC Bulacan Water Services Corp. for P1.02 billion.
