mergers | ABS-CBN News

Krungsri, MUFG to acquire Home Credit Philippines

ABS-CBN News
Updated as of Jun 02 11:32 AM

Home Credit Philippines or HC Consumer Finance Philippines Inc said on Friday it was acquired by Thailand's Bank of Ayudhya PCL or Krungsri and Japan's Mitsubishi UFJ Financial Group for P24.4 billion. Read more »

Fruitas acquires startup, expands cloud kitchen venture

ABS-CBN News
Updated as of Jun 02 08:39 AM

Fruitas Holdings Inc said on Thursday it acquired the 3-year old Fly Kitchen Inc to expand its cloud kitchen business. Read more »

JFC to acquire majority stake in Hong Kong Jollibee franchisee

ABS-CBN News
Posted at Apr 05 04:19 PM

Jollibee Foods Corp said on Wednesday it would acquire a majority stake in Meko Holdings Ltd, the Jollibee brand's master franchisee in Hong Kong. Read more »

Diokno says Marcos backs Landbank-DBP merger

Jessica Fenol and Job Manahan, ABS-CBN News
Updated as of Mar 28 03:36 PM

Finance Sec. Diokno said President Marcos supports the proposed merger of Landbank and the Development Bank of the Philippines. Read more »

Metro Pacific says to acquire shares in SPNEC for P2-B

ABS-CBN News
Posted at Mar 28 10:12 AM

Metro Pacific Investment Corp said on Tuesday it would acquire shares in SP New Energy Corp (SPNEC) worth P2 billion. Read more »

BDO to take full ownership of Podium Complex after buyout of Keppel shares

ABS-CBN News
Posted at Mar 27 01:50 PM

BDO Unibank said on Monday it would take full ownership of the Podium Complex in Mandaluyong. Read more »

Metro Pacific says 'has not disposed' any stake in Maynilad

ABS-CBN News
Posted at Mar 24 09:34 AM

Metro Pacific Investment Corp said on Friday it did not dispose any or all of its stake in the west zone water utility concessionaire Maynilad Water Services Inc following social media reports that the firm has been sold to Enrique Razon. Read more »

HSBC buys failed US bank SVB's UK arm for £1

Agence France-Presse
Posted at Mar 13 05:12 PM

The UK arm of failed US lender Silicon Valley Bank has been sold to HSBC for a nominal £1 ($1.2) in a rescue deal, the government and HSBC announced Monday. Read more »

BPI-Robinsons merger may take effect earlier than anticipated

ABS-CBN News
Posted at Mar 03 01:58 PM

JG Summit Holdings Inc said on Friday the merger between the Bank of the Philippine Island and Robinsons Bank Corp could take effect earlier than anticipated. Read more »

Antitrust body raises mandatory notification thresholds for merger review

ABS-CBN News
Posted at Feb 24 11:48 AM

The Philippine Competition Commission said it raised the threshold for the mandatory merger notification this March. Read more »

'Someone else' could be running Twitter this year, says Musk

Agence France-Presse
Posted at Feb 15 03:44 PM

Twitter boss Elon Musk said Wednesday that a new CEO might be running the online platform by the end of 2023, after a "rollercoaster" since he took full ownership last year. Read more »

Meta completes virtual reality deal after US court win

ABS-CBN News
Posted at Feb 10 08:28 AM

Facebook-owner Meta finalized its buyout of virtual reality firm Within Unlimited, the VR company's chief executive said, after a court rejected an attempt by US regulators to block the deal over competition concerns. Read more »

Metro Pacific to acquire 34.76 pct of coconut exporter Axelum

ABS-CBN News
Posted at Feb 07 11:24 AM

Metro Pacific said its unit Metro Pacific Agro Ventures Inc would acquire 34.76 percent ownership in Axelum Resources for P5.32 billion. Read more »

Monde Nissin to acquire 15 pct stake in Figaro Coffee

ABS-CBN News
Posted at Jan 26 09:30 AM

Monde Nissin Corp said on Thursday it would acquire 15 percent of Figaro Coffee Group Inc for P820.3 million. Read more »

Antitrust body OKs AIA Philippines' acquisition of MediCard

ABS-CBN News
Updated as of Jan 06 05:37 PM

The Philippine Competition Commission said it approved AIA Philippines' proposed acquisition of 100 percent shares in MediCard Philippines Inc. Read more »

SEC OKs AXA Philippines, Charter Ping An merger: GT Capital

ABS-CBN News
Posted at Jan 04 12:18 PM

GT Capital Holdings said the SEC has approved the merger between AXA Philippines and its former insurance subsidiary Charter Ping An Insurance Corp. Read more »

BPI approves issuances of shares to Robinsons Bank shareholders

ABS-CBN News
Posted at Dec 15 10:15 AM

The Bank of the Philippine Islands on Thursday said its board has approved the issuance of common shares to shareholders of Robinsons Bank Corp as part of the merger between the 2 banks. Read more »

Twitter exodus begins after Musk 'hardcore' ultimatum

Agence France-Presse
Posted at Nov 18 10:08 AM

Employee departures were multiplying at Twitter on Thursday after an ultimatum from new owner Elon Musk, who demanded staff choose between being "extremely hardcore" and working intense, long hours, or losing their jobs. Read more »

Cryptocurrency exchange Binance calls off acquisition of FTX

Agence France-Presse
Posted at Nov 10 08:21 AM

Binance, the world's biggest cryptocurrency platform, said in an abrupt reversal Wednesday that it was scrapping plans to acquire rival FTX.com, citing reports of mishandled customer funds and alleged government probes. Read more »

Musk tweets 'the bird is freed' with Twitter takeover complete

Agence France-Presse
Posted at Oct 28 01:25 PM

Elon Musk tweeted 'the bird is freed' after taking control of Twitter in a deal that puts him at the helm of a platform for global discourse. Read more »