PHILIPPINE Realty and Holdings Corp. (Philrealty) said on Tuesday accounting firm R.G. Manabat and Co. found fairness in its deal with Greenhills Properties Inc. and Meridian Assurance Corp.
“In the valuation and fairness opinion report prepared for, and submitted by, RGM&Co to RLT, it expressed the opinion that the method employed by RLT is a fair basis in determining the transaction price (and the transaction value) for the issuance of new shares in favor of GPI and MAC from an increase in the authorized capital stock,” the company said in its disclosure on Tuesday.
Greenhills Properties is infusing into PhilRealty two vacant lots in Bonifacio Global City in Taguig with a fair market value of P2.25 billion.