Inquirer.net reports: "Tycoon Henry Sy Sr. is finalizing a deal to acquire a majority stake in the privately held Ortigas property group in a transaction worth around $1 billion." The report pointed out that this would give the SM group control of the 16-hectare Greenhills shopping complex.
The report further noted: "Inquirer sources confirmed that the SM group was close to a deal to buy into the Ortigases’ property holding unit OCLP Holdings after a crucial bloc—which included British banking giant HSBC and some family members—consented to the deal."
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