A group of private investors entered into an agreement to acquire 70% stake in Meridian Assurance Corporation from Philippine Realty and Holdings Corporation (PSE:RLT) for approximately PHP 190 million on December 27, 2013. Philippine Realty and Holdings Corporation will sell 1.75 million shares of Meridian Assurance at PHP 109.14 per share. The deal is subject to approval by the Insurance Commission. The Board of Philippine Realty and Holdings Corporation approved the deal on December 27, 2013.

A group of private investors completed the acquisition of 70% stake in Meridian Assurance Corporation from Philippine Realty and Holdings Corporation (PSE:RLT) on December 27, 2013.