No account yet?
Business News
Tuesday, 01 September 2009 00:00    Print
FPHC increases in stake in Rockwell
FIRST Philippine Holdings Corporation (FPHC) has acquired the 24.5% stake of Benpres Holdings Corporation (Benpres) in Rockwell Land Corporation (Rockwell) for P1.5 billion. The investment was earlier authorized by the FPHC board of directors. Being related parties, FPHC and Benpres secured a fairness opinion from a third party, CLSA Exchange Capital Inc., for the transaction.

As a result of the acquisition, FPHC now owns 49% of Rockwell, while Meralco owns the remaining 51%.
Elpidio L. Ibañez, FPHC president, said, “The buy-up in Rockwell solidifies FPHC’s strategic position in the company. Rockwell Land has a strong brand and track record in property development. Rockwell Center is one of the most successful inner-city community developments in the country, and Rockwell is primed to deliver further growth with new and exciting projects in the pipeline.”

Recommend this article...

Comments (0)Add Comment
feedSubscribe to this comment's feed

Write comment

busy
 
Banner
Lola Techie
Larunungan Toy DriveSkyBroadband 5Mbps
Sky Broadband

Your are currently browsing this site with Internet Explorer 6 (IE6).

Your current web browser must be updated to version 7 of Internet Explorer (IE7) to take advantage of all of template's capabilities.

Why should I upgrade to Internet Explorer 7? Microsoft has redesigned Internet Explorer from the ground up, with better security, new capabilities, and a whole new interface. Many changes resulted from the feedback of millions of users who tested prerelease versions of the new browser. The most compelling reason to upgrade is the improved security. The Internet of today is not the Internet of five years ago. There are dangers that simply didn't exist back in 2001, when Internet Explorer 6 was released to the world. Internet Explorer 7 makes surfing the web fundamentally safer by offering greater protection against viruses, spyware, and other online risks.

Get free downloads for Internet Explorer 7, including recommended updates as they become available. To download Internet Explorer 7 in the language of your choice, please visit the Internet Explorer 7 worldwide page.