AVENUE ASIA GROUP

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                    [ArticleID] => 498664
                    [Title] => Stocks surge 5.11% fuelled by US rally
                    [Summary] => 
Philippine stocks surged 5.11 percent higher yesterday fuelled by strong gains in the US and European markets as optimism mounted that the global economy is getting back on its feet after the worst recession in decades.
                    [DatePublished] => 2009-08-25 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1690110
                    [AuthorName] => Rica Delfinado
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [1] => Array
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                    [ArticleID] => 498669
                    [Title] => Benpres trims debt to $70 million
                    [Summary] => 
From a high of $560 million in 2002, Benpres Holdings Corp., the listed investment holding firm of the Lopez family, has trimmed its debt to only $70 million after buying back $260 million in principal debt from its biggest creditor, making a breakthrough in a long-drawn-out debt restructuring effort.
                    [DatePublished] => 2009-08-25 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [2] => Array
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                    [ArticleID] => 294155
                    [Title] => UBP eyes remittance business
                    [Summary] => Despite its unsuccessful bid to acquire the Philipppine National Bank (PNB), the Union Bank of the Philippines (Union Bank) will pursue its aggressive bid to capture a slice of the overseas Filipino workers (OFWs) remittance business.


Along with the Avenue Asia Group,  they made a bid for PNB through a public bidding which was perceived as biased in favor of the Lucio Tan Group (LTG). Since it partnered with the government to save PNB, taipan Lucio Tan was granted the right to first refusal for the former government financial institution (GFI).


                    [DatePublished] => 2005-08-30 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
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                    [ArticleID] => 291228
                    [Title] => Union Bank outbids Tan for PNB stake
                    [Summary] => The consortium of Union Bank of the Philippines (UBP) and Avenue Asia Group offered the highest bid yesterday at P43.77 per share for the 67-percent stake in the Philippine National Bank (PNB). 


The only other bidder was the Lucio Tan Group (LTG) which submitted a lower bid of P43 per share.  UBP/Avenue’s bid price is 77 centavos higher than the government’s  floor price of P43 per share worth P11 billion. 


                    [DatePublished] => 2005-08-13 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096364
                    [AuthorName] => Donnabelle L. Gatdula
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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Stocks surge 5.11% fuelled by US rally

By Rica Delfinado | August 25, 2009 - 12:00am

Philippine stocks surged 5.11 percent higher yesterday fuelled by strong gains in the US and European markets as optimism mounted that the global economy is getting back on its feet after the worst recession...

Business

Benpres trims debt to $70 million

By Zinnia B. Dela Peña | August 25, 2009 - 12:00am

From a high of $560 million in 2002, Benpres Holdings Corp., the listed investment holding firm of the Lopez family, has trimmed its debt to only $70 million after buying back $260 million in principal debt from...

Business

UBP eyes remittance business

August 30, 2005 - 12:00am

Despite its unsuccessful bid to acquire the Philipppine National Bank (PNB), the Union Bank of the Philippines (Union Bank) will pursue its aggressive bid to capture a slice of the overseas Filipino workers (OFWs)...

Banking

Union Bank outbids Tan for PNB stake

By Donnabelle L. Gatdula | August 13, 2005 - 12:00am

The consortium of Union Bank of the Philippines (UBP) and Avenue Asia Group offered the highest bid yesterday at P43.77 per share for the 67-percent stake in the Philippine National Bank (PNB). The only other bidder...

Business