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Yuchengco's House of Investments gets SEC nod to buy Grepa Realty
January 10, 2024
|The Philippine Star
The Securities and Exchange Commission (SEC) has approved Yuchengco-led House of Investments' move to acquire GPL Holdings Inc.'s (GPLH) shares in Grepa Realty Holdings Corp.
As earlier disclosed, House of Investments would acquire 100 percent of GPLH's outstanding shareholdings in Grepa Realty for P1.7 billion as part of its move to diversify into the property sector. The acquisition will be made through a share swap agreement wherein GPLH will receive 7.24 House of Investments shares for each Grepa Realty share.
The SEC has given its green light to the acquisition, in sync with the Yuchengco Group's reorganization efforts to further unlock values from the group's different businesses.
"The reorganization exercise will seek to unlock values from the Yuchengco
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