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MANILA, Philippines – DigiPlus Interactive Corp. has completed the final leg of its P12 billion investment in Hong Kong-listed International Entertainment Corp. (IEC), moving closer to securing control of the company that owns and operates New Coast Hotel Manila.
The digital entertainment platform led by tycoon Eusebio Tanco said on Thursday that all conditions precedent to the second completion of its subscription agreement with IEC had been satisfied. This allows the transaction to be completed on June 3.
READ: DigiPlus Q1 earnings down 33% amid e-wallet delinking
This development follows the first completion on March 3, when convertible notes worth HK$800 million were issued to DigiPlus.
