Bank of the Philippine Islands (PSE:BPI) and JG Summit Holdings, Inc. (PSE:JGS) agreed to acquire Robinsons Retail Holdings, Inc. (PSE:RRHI) on September 30, 2022. Bank of the Philippine Islands will be a surviving bank in the transaction. Transaction is subject to subject to shareholders and regulatory approvals including e Philippine Competition Commission, the Bangko Sentral ng Pilipinas, the Philippine Deposit Insurance Corporation, and the Securities and Exchange Commission , the RBC Shareholders will collectively hold approximately 6% of the resulting outstanding capital stock of BPI.

Transaction is expected to complete before the end of 2023.