<article>Philippine credit card services firm <a href="http://www.rcbcbankard.com" target="_blank">Bright Kindle Resources &amp; Investments Inc (BKR)</a> has invested P2.7 billion ($60.4 million) in <a href="http://www.marcventuresholdings.com" target="_blank">Marcventures Holdings Inc</a>, acquiring 33 per cent stake in the nickel mining company.</article>

Philippine credit card services firm <a href="http://www.rcbcbankard.com" target="_blank">Bright Kindle Resources &amp; Investments Inc (BKR)</a> has invested P2.7 billion ($60.4 million) in <a href="http://www.marcventuresholdings.com" target="_blank">Marcventures Holdings Inc</a>, acquiring 33 per cent stake in the nickel mining company.
In a disclosure to the Philippine Stock Exchange, BKR said it acquired 600 million shares of Marcventures from the <a href="http://www.pbb.com.ph/" target="_blank">Philippine Business Bank- Trust and Investment Center </a>at P4.50 per share.
Formerly Bankard Inc, BKR made the acquisition through a cross sale in the PSE.
&#8220;The acquisition is part of the company&#8217;s strategy to make investments in assets that have potential capital appreciation and which can provide a regular dividend income stream to the company,&#8221; BKR said in an official statement.
BKR paid P650 million ($14.5 million) of the total $60.4 million upon cross sale. The remaining amount of P2.050 billion ($45.8 million) shall be paid on or before December 31, 2015 or on such other date the two firms may agree in writing.
Marcventures is a PSE listed corporation engaged in business of nickel mining under a mineral production sharing agreement covering 4.799 Hectares in Surigao del Sur province.
BKR&#8217;s share price on Monday ended P3.05 per share, up by 1.64 per cent from last Friday&#8217;s close at P3.05.
Marcventures, meanwhile, increased its share price at 2.73 per cent or P6.02 from last Friday&#8217;s close of P5.86 per share.
Image: <a href="http://www.freedigitalphotos.net/" target="_blank">Freedigitalphotos.net</a>

Bright Kindle buys 33% in Marcventures for $60.4m

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Bright Kindle buys 33% in Marcventures for $60.4m

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