MAPFRE RE

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                    [ArticleID] => 203699
                    [Title] => Spanish business group acquires First Metro stake in local unit
                    [Summary] => Corporacion Mapfre, the holding company of Sistema Mapfre of Spain, announced that it recently acquired the P170-million stake of First Metro Investment Corp. in Mapfre’s local business unit, Mapfre Asian Insurance Corp. The acquisition enabled Corporacion Mapfre to substantially increase its holding in Mapfre Asian from 53.3percent to 93.3 percent.


The move to invest an additional P170 million reflects Corporacion Mapfre’s continued confidence in the Philippine market despite the difficult market conditions prevailing in the country.


                    [DatePublished] => 2003-04-25 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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Spanish business group acquires First Metro stake in local unit

April 25, 2003 - 12:00am

Corporacion Mapfre, the holding company of Sistema Mapfre of Spain, announced that it recently acquired the P170-million stake of First Metro Investment Corp. in Mapfre’s local business unit, Mapfre Asian Insurance...

Business