Cebu Holdings, Inc. (PSE:CHI) agreed to acquire remaining 23.76% stake in Cebu Property Ventures and Development Corporation (PSE:CPVB) for PHP 1.4 billion on February 26, 2018. Cebu Holdings, Inc. will issue 1.06 shares against each share of Cebu Property Ventures and Development Corporation. Post completion, the separate existence of Cebu Property Ventures and Development Corporation will cease and Cebu Holdings, Inc. will be the surviving entity. The transaction is subject to the approval by the Security and Exchange Commission and shareholders of Cebu Holdings, Inc. The Board of Directors of Cebu Holdings, Inc. and Cebu Property Ventures and Development Corporation have approved the transaction. Shareholders meeting will be held on April 10, 2018. The transaction has been approved by shareholders of Cebu Holdings, Inc. As of April 10, 2018, Cebu Property Ventures and Development Corporation's shareholders approved the transaction in shareholders meeting. The transaction has been approved by Security and Exchange Commission on November 6, 2018.

Cebu Holdings, Inc. (PSE:CHI) completed the acquisition of remaining 23.76% stake in Cebu Property Ventures and Development Corporation (PSE:CPVB) on November 6, 2018.