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EEI board OKs P11.42-B liability acquisition, subsidiary consolidation
Business World Philippines
|December 05, 2025
EEI CORP'S board of directors has approved the acquisition of P11.42 billion in liabilities of its subsidiary First Orient International Ventures Corp. in exchange for unissued shares.
"The Board of Directors approves the acquisition of the liabilities of First Orient International Ventures Corporation (FOIVC), its wholly owned subsidiary," EEI said in a stock exchange disclosure on Thursday.
The listed construction company said the assignment of liabilities requires creditor consent, while the issuance of FOIVC shares in exchange for those liabilities is subject to Securities and Exchange Commission (SEC) approval.
EEI noted that the transaction further strengthens FOIVC's balance sheet and enhances its creditworthiness.
Dit verhaal komt uit de December 05, 2025-editie van Business World Philippines.
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