- | FPH has divested a quarter of its stake in MHE-Demag (P), Inc. to its co-shareholder in Singapore |
- | It has raised P85M from selling 175K shares |
- | The deal will be paid in cash and will close once the Deed of Assignment of Shares is completed |
| Selling its subsidiary |
First Philippine Holdings Corp. (FPH) has divested a quarter of its stake in MHE-Demag (P), Inc. to its co-shareholder in Singapore. The Lopez-led company said it raised P85 million from selling 175,000 shares in its operations of the materials handling equipment manufacturer to MHE-Demag (S) Pte. Ltd.
It did not disclose the reason for the transaction, but noted it does not foresee a material effect on its business with the disposition (of shares).
November 27, 2019 11:04 am