Megaworld (MEG): Acquisition of stake of ELI and SUN in Suntrust - TopicsExpress

Megaworld (MEG): Acquisition of stake of ELI and SUN in Suntrust Properties, Inc. Megaworld Corporation acquired the stake of Empire East Land Holdings, Inc. (ELI) and Suntrust Home Developers, Inc. (SUN) in affordable housing developer, Suntrust Properties, Inc., making the latter a wholly owned subsidiary of Megaworld. A total of 393,750,000 shares of Suntrust Properties, Inc. were acquired by Megaworld at book value for a total acquisition price of Php589,046,062.50.

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