EEI board OKs P11.42-B liability acquisition, subsidiary consolidation - BusinessWorld Online

EEI board OKs P11.42-B liability acquisition, subsidiary consolidation - BusinessWorld Online

EEI CORP.’S board of directors has approved the acquisition of P11.42 billion in liabilities of its subsidiary First Orient International Ventures Corp. in exchange for unissued shares. “The Board of Directors approves the acquisition of the liabilities of First Orient International Ventures Corporation (FOIVC), its wholly owned subsidiary,” EEI said in a stock exchange disclosure on Thursday. The listed construction company said the assignment …