Chemical Industries board votes to merge subsidiaries to 'focus on real estate'
Chemical Industries of the Philippines [CIP halted] [link] said that its board voted to exclude the Unioil Group from the merger of its subsidiaries. The subsidiaries that will be merged are Addventure Properties, Citiworld Properties, Exquadra, Quantumlink Realty, Buklod Realty, and Rivertanks; Uniholdings Inc will be the surviving entity of this merger. The PSE halted trading in CIP’s shares prior to the market’s open, “pending submission of the additional information required by the Exchange”, eight minutes after CIP’s “Reply to Exchange’s Query” hit the EDGE disclosure server.