Chemical Industries of the Philippines, Inc. entered into share purchase agreement to acquire Tierra Ariana Eco Land, Inc. from Pacific Unity SDN. BHD. and others for PHP 100 million.

Chemical Industries of the Philippines, Inc. (PSE:CIP) entered into share purchase agreement to acquire Tierra Ariana Eco Land, Inc. from Pacific Unity SDN. BHD. and others for PHP 100 million on June 21, 2023.

As of December 31, 2022, Tierra Ariana Eco Land reported total assets of PHP 1.813 billion. As of August 11, 2023 an amendment to the foregoing Share Purchase Agreement was executed by the Parties. The said amendment includes an agreement to divide the amount of Documentary Stamp Tax which may be due on the transaction among CIP and the selling stockholders of Tierra Ariana.