July 23, 2018, 9:35 pm
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1 Philippine Peso = 0.06891 UAE Dirham
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1 Philippine Peso = 0.8925 Gambian Dalasi
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1 Philippine Peso = 0.14047 Guatemala Quetzal
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1 Philippine Peso = 0.14725 Hong Kong Dollar
1 Philippine Peso = 0.44908 Honduras Lempira
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1 Philippine Peso = 1.26435 Haiti Gourde
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1 Philippine Peso = 22.32645 Iraqi Dinar
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1 Philippine Peso = 27.07317 Myanmar Kyat
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1 Philippine Peso = 1 Philippine Peso
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1 Philippine Peso = 392.12008 Sao Tome Dobra
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1 Philippine Peso = 145.53471 Uzbekistan Sum
1 Philippine Peso = 2245.77861 Venezuelan Bolivar
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1 Philippine Peso = 2.06942 Vanuatu Vatu
1 Philippine Peso = 0.04922 Samoa Tala
1 Philippine Peso = 10.49099 CFA Franc (BEAC)
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1 Philippine Peso = 10.49099 CFA Franc (BCEAO)
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Developer buys 290-hectare property in Tarlac

Ayala Land Inc. is buying  a large track of land from sugar miller Central Azucarera de Tarlac (CAT). 

The property developer  is buying approximately 290 hectares of land from CAT  in Barangay Central, San Miguel, Tarlac City, Tarlac.

 The acquisition was approved recently by the Philippine Competition Commission (PCC).

“The parties are not operating in the same geographic market,” said PCC whose  mergers and acquisitions office found the transaction does not result in substantial lessening of competition in their respective relevant markets.

The PCC though failed to reveal how much the transaction was worth. 

As a rule, the PCC requires to give its nod for transactions worth at least P1 billion. 

Developer and publicly-listed Ayala Land is the property development arm of the Ayala Group of companies and is primarily engaged in the planning and development of large-scale, integrated estates. 

CAT  meanwhile was a sugar-milling entity that was previously held by the Cojuangco family, a majority of which was later acquired by the partnership of Martin Lorenzo and Fernando Cojuangco in 2014. The publicly-listed CAT  is primarily engaged in the manufacturing of sugar and all its by-products. Its facilities include the sugar milling and refinery, distillery and carbon dioxide plants located in Tarlac. 

The PCC  also approved  the acquisition by Fullerton Healthcare Corp. Limited (Fullerton) of a combined 60 percent in Asalus Corp., (Asalus), Avega Managed Care Inc. (Avega), and Aventus Medical Care, Inc. (Aventus). Asalus, Avega, and Aventus are related parties. 

“Following the transaction, Fullerton owns 60 percent of the issued and outstanding capital shares of Asalus, Avega, and Aventus,” the PCC said.

 “No overlaps exist between the parties in the domestic geographic market in health maintenance organization (HMO), third-party administration (TPA) products, and clinical and drug testing laboratories,” it added.

 Fullerton is a foreign corporation, and through its subsidiaries, engages principally in the provision of enterprise healthcare services and specialty service in Singapore, Malaysia, Indonesia, China, Australia and New Zealand.
 
Asalus is operating under the trade name  Intellicare, which was incorporated primarily to engage in the business of developing, maintaining, and promoting integrated medical and health maintenance services. It offers HMO products and standard full HMO services.
 
Avega meanwhile is engaged in business of developing, maintaining, and promoting promoting integrated medical and health maintenance services, with the aim of providing a comprehensive, systematic and prevention-oriented concept of medical and health maintenance program, through the accreditation, integration and professional maintenance of the services of healthcare facilities and providers. It primarily offers TPA type of HMO product.
 
Aventus on the other hand is engaged in the business of establishing, owning, and managing medical clinics and medical or clinical laboratories, including drug testing laboratories, and providing medical and healthcare services and products.
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