Thursday, July 25, 2024
HomeNewsPhilippinesPH Resorts enters debt restructuring deal to save Emerald Bay

PH Resorts enters debt restructuring deal to save Emerald Bay

PH Resorts, the developer of the Emerald Bay project in Cebu, has now entered into a MOU with Cebu-based property developer AppleOne Properties for a majority interest in its Emerald Bay project.

The company, after months of debate, has now officially announced that AppleOne will be acquiring “at least a majority of the equity interest” in subsidiaries of the company which are linked to the project.

The move allows PH Resorts to pay its funds owed to China Banking Corp. and retains its rights to use and construct the Emerald Bay project.

AGBrief Editorial
AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

MORE ARTICLES

FOLLOW US

daily newsletter