Tuesday, January 15, 2013

PGOLD - Puregold to buy operator of Eunilane, Grocer E

MANILA – The competition between the country’s two biggest retailers is heating up with Puregold Price Club set to acquire the owner and operator of the Eunilaine food mart and Grocer E supermarket.

Puregold's acquisition of the retailer came on the heels of the SM group's announcement last week that its subsidiaries SM Retail Inc and SM Prime Holdings Inc have entered into a joint venture agreement with the Waltermart Group.

In a disclosure to the Philippine Stock Exchange, Puregold said its executive committee approved on Monday the acquisition of up to 100 percent of Company E Corp through the purchase of shares from its stockholders.

http://www.interaksyon.com/business/52648/puregold-to-buy-operator-of-eunilane-grocer-e

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