Philippine Daily Inquirer
3:54 am | Thursday, January 16th, 2014
The merger that turned SM Prime Holdings Inc. into the largest property firm in Southeast Asia earned for the group of tycoon Henry Sy the “most innovative deal” award from Alpha Southeast Asia, a financial magazine based in Hong Kong.
The award followed an intensive review of over 56 bank nominations covering over 200 deals or solutions from brokerages, commercial and investment banks and relevant institutions throughout Southeast Asia. It also forms part of the magazine’s 7th Annual Best Deal & Solution Awards for 2013.
The awarding ceremony will be held on Jan. 23 in Kuala Lumpur.
Siddiq Bazarwala, Alpha publisher, said the SM property consolidation was a “highly transformational” transaction, which was in line with SM Investments Corp.’s vision to create a leading and integrated real estate company in Asia.
The consolidation of property-related businesses under SM Prime involved a series of steps, which included tender offers leading to the delisting of SM Development Corp. and Highlands Prime Inc., the merger of unlisted SM Land Inc. with SM Prime through a share-for-share swap, and the acquisition by SM Prime of certain real estate companies and assets held by SM Investments in exchange for new shares in SM Prime.
SM Prime has become one of Southeast Asia’s leading real estate companies with an aggregate landbank of more than 825 hectares and total assets of $7.5 billion as of Sept. 30.—Doris C. Dumlao
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Tags: Alpha Southeast Asia , awards and prizes , property , Real Estate , SM Prime Holdings
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