Bloomberry's board decided to terminate the agreement following due diligence of the target companies
Bloomberry Resorts Corp., the operator of Solaire Resort & Casino in Manila, announced in a filing to the Securities and Exchange Commission (SEC) of the Philippines that its investment pre-agreement with PH Travel and Leisure Corp was terminated.
Term Sheet Termination
The filing with the SEC confirmed the news that the board of billionaire Enrique Razon Jr.- owned Bloomberry Resorts had approved a resolution to terminate the term sheet it had signed with a subsidiary of PH Resorts Group Holdings, a group of companies owned by Davao-based tycoon Dennis Uy.
According to the information provided by Bloomberry Resorts and cited by The Inquirer, its board decided to terminate the term sheet “after considering the results of due diligence on the target companies and the projects.”
Bloomberry Resorts Corp., the operator of Solaire Resort & Casino in Manila, announced in a filing to the Securities and Exchange Commission (SEC) of the Philippines that its investment pre-agreement with PH Travel and Leisure Corp was terminated.
Term Sheet Termination
The filing with the SEC confirmed the news that the board of billionaire Enrique Razon Jr.- owned Bloomberry Resorts had approved a resolution to terminate the term sheet it had signed with a subsidiary of PH Resorts Group Holdings, a group of companies owned by Davao-based tycoon Dennis Uy.
According to the information provided by Bloomberry Resorts and cited by The Inquirer, its board decided to terminate the term sheet “after considering the results of due diligence on the target companies and the projects.”