Lavish Sources Limited, Quantumlink Realty Corporation, Citiworld Properties & Development Corporation, and Exquadra Inc. completed the acquisition of a 56.97% stake in Chemical Industries of the Philippines, Inc. from A2K Holdings Corporation, Chemholdings Corporation, Philippine Indochem Corp., Chemphil Employees Livelihood Foundation and Antonio M. Garcia for PHP 1.04 billion.
February 09, 2020
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Lavish Sources Limited, Quantumlink Realty Corporation, Citiworld Properties & Development Corporation, and Exquadra Inc. entered into a share purchase agreement to acquire a 56.97% stake in Chemical Industries of the Philippines, Inc. (PSE:CIP) from A2K Holdings Corporation, Chemholdings Corporation, Philippine Indochem Corp., Chemphil Employees Livelihood Foundation and Antonio M. Garcia for PHP 1.04 billion on November 11, 2019. Pursuant to the transaction, the buyers will acquire 5.87 million shares. As of February 2, 2020, A2K Holdings Corporation, Chemholdings Corporation, Philippine Indochem Corp., and Antonio M. Garcia sold 56.9% stake in Chemical Industries of the Philippines, Inc. (PSE:CIP) as part of the transaction. The closing and completion of the sale is subject to the fulfilment of certain conditions including the conduct of a tender offer by the buyers in accordance with the requirements of the Securities Regulation Code.
Lavish Sources Limited, Quantumlink Realty Corporation, Citiworld Properties & Development Corporation, and Exquadra Inc. completed the acquisition of a 56.97% stake in Chemical Industries of the Philippines, Inc. (PSE:CIP) from A2K Holdings Corporation, Chemholdings Corporation, Philippine Indochem Corp., Chemphil Employees Livelihood Foundation and Antonio M. Garcia for PHP 1.04 billion on February 10, 2020.
Chemical Industries of the Philippines, Inc. is a Philippines-based holding company. The Company's business purpose to invest in and/or to engage in real-estate business. The Company operates through leasing segment. The Companyâs current primary purpose is to acquire by purchase, lease, or otherwise, lands or interest in lands and realty, and to own, hold, improve, develop, manage, and operate said land or lands or real estate so acquired, and to erect or cause to be erected on any lands, owned, held, occupied, or acquired by the corporation, buildings and other structures with their appurtenances. It also involved in rebuild, enlarge, alter, improve, or remodel any building or other structures, otherwise dispose of any lands or real estate or interests in lands or real estates and in buildings and other structures at any time owned or held by the corporation.
Lavish Sources Limited, Quantumlink Realty Corporation, Citiworld Properties & Development Corporation, and Exquadra Inc. completed the acquisition of a 56.97% stake in Chemical Industries of the Philippines, Inc. from A2K Holdings Corporation, Chemholdings Corporation, Philippine Indochem Corp., Chemphil Employees Livelihood Foundation and Antonio M. Garcia for PHP 1.04 billion.
CHEMICAL INDUSTRIES OF THE PHILIPPINES, INC. 