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Article: GSIS, SSS willing to sell EPCIB block; At a price above acquisition cost of P92 per share.(Business)
- Article from:
- Manila Bulletin
- Article date:
- August 7, 2005
CopyrightCOPYRIGHT 2005 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: FIL C. SIONIL
State-pension funds, Government Service Insurance System (GSIS) and Social Security System (SSS), are willing to let go of their interest in Equitable-PCI Bank (EPCI Bank), if the price is right.
GSIS President and General Manager Winston Garcia said the disposition will only be considered if the offer price per share is "above P92.00," which is its acquisition cost nearly seven years ago.
SSS President Corazon de la Paz, also, expressed the same view. However, she pointed out that the state-pension funds acquisition cost is relatively lower than GSIS, at only P85 per share.
SSS interest in EPCI Bank is more than ...