| SM Investments Corp., the holding company of tycoon Henry Sy, sold a 2-percent stake in banking subsidiary BDO Unibank Inc. to Malaysia’s sovereign wealth fund Khazanah Nasional Bhd. SM Investments said in a disclosure to the stock exchange subsidiary Multi-Realty Development Corp. sold the 2-percent stake in BDO to Pulau Kaca Investments Ltd., a unit of Khazanah Nasional.
Multi-Realty Development, prior to the transaction, owned 315.302 million shares in BDO, representing an 8.81-percent interest in the bank as of end-September 2014. Khazanah Nasional is the government of Malaysia’s strategic investment fund...............................................Full Article: Source
|