Belle Corp. is looking to take unit Premium Leisure Corp. private.
The Sy-led gaming and realty firm said it will soon be taking a tender offer for the publicly-owned shares of Premium Leisure which holds the gaming license for the City of Dreams Manila.
Belle owns 78.75 percent of Premium Leisure.
“The tender offer price is to be determined upon receipt and acceptance by the Belle Board of the fairness opinion report of First Metro Investments Corp.,” it said
Belle said the tender offer price, timing, and other terms and conditions of the tender offer shall be determined and finalized upon receipt and acceptance of the fairness opinion.
PLC, which also owns listed lotto equipment supplier Pacific Online Systems Corp., earlier reported that profit last year grew 85 percent to P2.33 billion from P1.26 billion. Revenues grew 41 percent to P2.94 billion from P2.08 billion.