This comes almost a year after it assumed full control of the subsidiary.
Effective Sunday, December 1, The Podium Complex, Inc. — the entity owning the namesake property in Mandaluyong City — will officially be subsumed under its parent firm, BDO Unibank, Inc.
In the merger exercise, which was disclosed to the Philippine Stock Exchange (PSE) last November 20, BDO would be the surviving entity and will take over the Php 7.08 billion-worth of assets handled by Podium.
Formerly known as SM Keppel Land, the company’s portfolio includes the Podium Mall, West Tower, and the BDO Corporate Center in Ortigas district.
“BDO will issue 54,229,014 common shares in exchange for the assets and liabilities of The Podium Complex, Inc. and the latter’s cancelled stock,” the bank reported to the PSE.
This development comes almost a year after BDO, under the SM group, took complete control over the complex after its former partner, The Keppel Group, divested its stake in December 2023.
