The Ayala Group's Bank of the Philippine Islands (BPI) will ratify the P26-billion acquisition of the Gokongwei family's Robinsons Bank Corp. in a meeting with stockholders on Jan. 17 next year. The banking giant is seeking the approval of its stockholders while planning to implement a capital increase to support the merger, which the parties plan to complete before the end of 2023. Announced last September, the transaction allows BPI to gain control of the smaller Robinsons Bank's network and assets. This also includes a 20-percent stake in GoTyme, the Gokongwei digital bank venture with multinational financial group Tyme. Robinsons Bank shareholders, JG Summit Holdings and Rob...
Keep on reading: BPI seeks stockholders’ nod for P26-B Robinsons Bank takeover
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Keep on reading: BPI seeks stockholders’ nod for P26-B Robinsons Bank takeover
from INQUIRER.net https://ift.tt/PbILeGz
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