Business World Online
Posted on 09:16 PM, November 04, 2010
LISTED A Brown Co., Inc. will acquire control of three local firms for an undisclosed amount.
The purchase involves two new holding firms and a power plant builder, the firm told the bourse yesterday.
A Brown said it would acquire 95% of Palm Thermal Consolidated Holdings Corp. upon the Securities and Exchange Commission’s approval of the firm’s incorporation papers. A Brown will also acquire 100% of Panay Consolidated Land Holdings Corp. The firms will “purchase, own, and sell property and shares of stock.”
A Brown will also buy Hydro Link Projects Corp., a new firm that will operate hydro-electrical plants and systems and other power generating or converting stations.
Profits of A Brown surged more than five times to P479.6 million in the second quarter after selling a stake in Monte Oro Grid Resources Corp. to Henry Sy, Jr.-led One Taipan Holdings Corp.
Shares in A Brown closed P0.02 lower at P2.96 apiece yesterday. -- N. J. C. Morales
A Brown said it would acquire 95% of Palm Thermal Consolidated Holdings Corp. upon the Securities and Exchange Commission’s approval of the firm’s incorporation papers. A Brown will also acquire 100% of Panay Consolidated Land Holdings Corp. The firms will “purchase, own, and sell property and shares of stock.”
A Brown will also buy Hydro Link Projects Corp., a new firm that will operate hydro-electrical plants and systems and other power generating or converting stations.
Profits of A Brown surged more than five times to P479.6 million in the second quarter after selling a stake in Monte Oro Grid Resources Corp. to Henry Sy, Jr.-led One Taipan Holdings Corp.
Shares in A Brown closed P0.02 lower at P2.96 apiece yesterday. -- N. J. C. Morales
No comments:
Post a Comment