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BRIEF-First Pacific says proposed merger between NLEX Corp and Tollways Management
April 17, 2017 / 10:49 AM / in 3 months

BRIEF-First Pacific says proposed merger between NLEX Corp and Tollways Management

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April 17 (Reuters) - First Pacific Co Ltd :

* Proposed merger between NLEX Corporation and Tollways Management Corporation

* Aggregate monetary consideration for all TMC common shares should amount to approximately php6.3 billion

* Under merger, egis will transfer 49,400 TMC common shares to NLEX in exchange for 133,380 NLEX common shares

* TMC shareholders participating in merger shall transfer their TMC common shares to NLEX in exchange for 2.7 NLEX common shares for 1 TMC common share

* Upon merger effective date, NLEX shall be deemed to have acquired all assets and assumed all liabilities of tmc

* Accordingly, TMC and NLEX are indirect subsidiaries of group Source text for Eikon: Further company coverage:

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