IFC may extend $90m debt to Philippines’ Energy Development Corp


Around 32 per cent stake in EDC is held by a consortium comprising funds managed by Macquarie Infrastructure and GIC-backed Arran Investment.

Philippine Digest: SBS acquires land parcel; PLDT inks $28.5m pact with Huawei

Listed firm SBS Philippines is acquiring a 5-hectare property for $10.4 million from a unit of Coca-Cola.

Philippines: City Savings Bank to acquire smaller rival

CitySavings, the thrift banking arm of listed lender UnionBank, is acquiring smaller rival PR Savings Bank for an undisclosed amount.

Philippine developer Ayala Land takes majority stake in Malaysia’s MCT

Ayala Land will buy an additional 17.24% stake in MCT in a deal worth $50.4 million. The deal will also trigger a mandatory requirement for the former to bid for the rest of MCT.

Philippines: AboitizPower completes buyout of SunEdison in solar JV

AboitizPower International struck a Share Purchase Agreement with SunE Solar BV, the parent company of SunEdison Philippines BV, for the deal.

Philippine lender Metrobank gets nod to buy out credit card JV partner ANZ

The 40% acquisition will give Metrobank full ownership of MCC, one of the leading credit card companies in the Philippines.

Philippines: Central bank urges caution against cryptocurrencies

In an advisory, the BSP advised the public to be cautious regarding the acquisition, possession, and trading of virtual currencies or dealing with related offers, even as it reiterated that it does not endorse these currencies as legal tender, store of value, or an investment vehicle.

Philippines: 8990 Holdings appoints new CEO, COO

Willibaldo Uy, and Alexander Sotto will take charge as as president and CEO, and chief operating officer of the company, respectively.

Philippines: Cirtek okays acquisition of tech promoter Multiplay

The planned acquisition is in line with Cirtek’s strategy to expand its business.

Philippines: Golden Haven acquires mass housing developer Bria Homes for $65 million

Philippine-listed Golden Haven Memorial Park is entering the country’s mass housing market through its acquisition of Bria Homes for $65 million.