BusinessWorld
SAN MIGUEL Corp.’s shipping unit has acquired majority control over the Cebu shipyard of Keppel Philippines Holdings, Inc. for P596.2 million, a disclosure filed with the local bourse on Friday showed.
Keppel, in the disclosure, said it has agreed to sell a 72% stake in Keppel Cebu Shipyard Land, Inc. as commercial operations on the site have already ceased anyway.
"The sale was approved as [we] no longer has shipyard operations on the said land," Keppel said, noting that the sale involved 36.07 million shares.
The "deed of absolute sale of shares and irrevocable proxy" was executed on Friday by Goodsoil Marine -- the Keppel unit in charge of the Cebu subsidiary -- and San Miguel’s SMC Shipping and Lighterage Corp.
Goodsoil Marine reportedly received the full payment in cash on the same day.
Read here
SAN MIGUEL Corp.’s shipping unit has acquired majority control over the Cebu shipyard of Keppel Philippines Holdings, Inc. for P596.2 million, a disclosure filed with the local bourse on Friday showed.
Keppel, in the disclosure, said it has agreed to sell a 72% stake in Keppel Cebu Shipyard Land, Inc. as commercial operations on the site have already ceased anyway.
"The sale was approved as [we] no longer has shipyard operations on the said land," Keppel said, noting that the sale involved 36.07 million shares.
The "deed of absolute sale of shares and irrevocable proxy" was executed on Friday by Goodsoil Marine -- the Keppel unit in charge of the Cebu subsidiary -- and San Miguel’s SMC Shipping and Lighterage Corp.
Goodsoil Marine reportedly received the full payment in cash on the same day.
Read here
No comments:
Post a Comment