Robinsons Retail Holdings, Inc. (RRHI) on Friday said its board approved the voluntary delisting of its shares from the Philippine Stock Exchange (PSE), following a notice of intent from controlling shareholder JE Holdings, Inc. to conduct a tender offer.
In a disclosure, the Gokongwei-led retailer said JE Holdings plans to launch a tender offer for all issued and outstanding shares not beneficially owned by the group and other delisting proponents, as part of the process to take the company private.
The proposed transaction is subject to compliance with regulatory requirements, including approvals from the Securities and Exchange Commission, the PSE, and the Philippine Competition Commission.
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