In a disclosure on Friday, the respective boards of directors of BPI, RBC, Robinsons Retail Holdings Inc. and JG Summit Capital Services Corp. greenlighted the BPI-RBC merger, with BPI as the surviving entity.The transaction is subject to shareholders and regulatory approvals from the Philippine Competition C, ommission, the Bangko Sentral ng Pilipinas, Philippine Deposit Insurance Corp. and the Securities and Exchange Commission.
RBC shareholders RRHI and JG Capital will hold about 6 percent of BPI’s capital stock upon the effectivity of the merger.
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