San Miguel Corp to buy Eagle Cement via P97-B takeover deal

07 Oct 2022 CW Team

As billionaire Ramon S. Ang consolidates his businesses, conglomerate San Miguel Corp plans to take control of subsidiary Eagle Cement in a P97 billion deal.

In a stock exchange statement, SMC stated that its board of directors and the related party transaction committee approved the acquisition of 88.5 per cent of Eagle Cement, a publicly traded cement company, at the approved price of P22.02 per share.

This was a 43 per cent increase over Eagle Cement's previous closing price of P15.40 per share. SMC will also make a mandatory tender offer to the minority owners of Eagle Cement.

Ang is the president and COO of SMC, one of the country's largest corporations with operations in food, beverages, power, and infrastructure.

Real Estate

09 Sep 2025

Mumbai Nears 100K Sales Despite Rs 10B August Dip

Mumbai’s real estate market remained resilient in August 2025, recording 11,230 property registrations under the Brihanmumbai Municipal Corporation (BMC) limits, according to data from Knight Frank India. Despite a 3 per cent year-on-year dip and an 11 per cent decline from July, experts suggest the housing market continues to be driven by strong end-user confidence.Stamp duty collections for the month stood at Rs 10 billion, down 6 per cent from Rs 10.62 billion in August 2024. However, cumulative performance from January to August 2025 paints a strong picture—over 99,869 registrations we..

Arkade Buys MMR Land Parcel for Rs 1.48 Billion

Mumbai-based real estate firm Arkade Developers Ltd announced on Wednesday that it has acquired a 14,364 sq metre land parcel in the Mumbai Metropolitan Region (MMR) for Rs 1.48 billion.In a regulatory filing, the company stated that it has entered into a memorandum of understanding (MoU) to acquire 100 per cent shareholding in Woollen and Textile Industries Ltd, which owns the Bhandup (West) land parcel.“The proposed acquisition includes a land parcel measuring 14,363.60 square metres located in Bhandup (West), Mumbai. The total consideration for the deal is Rs 1.48 billion,” the filing r..

Amazon Signs Rs 400 Million Lease for Hooghly Warehouse

Amazon Seller Services, the marketplace division of Amazon Inc., has leased 560,000 sq. ft of warehousing space in West Bengal’s Hooghly district as part of its nationwide expansion of fulfilment infrastructure.The upcoming facility, set to serve as a fulfilment centre (FC), has been pre-leased from Nahar Industrial Enterprises Ltd. As per documents accessed via real estate analytics platform Propstack, the property handover will occur between January and June 2026, with the lease officially commencing on 1 June 2026. The agreement spans a period of 20 years.Amazon will pay a monthly rent of..