Alterra Capital Partners, Inc. (PSE:ALT) agreed to acquire PHILAB Industries Inc. for PHP 500 million on October 20, 2016. Alterra Capital will acquire 0.36 million shares of PHILAB in the deal. There is still no definitive agreement finalized by Alterra Capital and Philab Industries. The Board of Directors and stockholders of Alterra Capital approved the deal on October 20, 2016. As of December 15, 2016 the Board of Directors approved Alterra Capital Partners, Inc. (PSE:ALT) to acquire 97.329755% stake for PHP 860 million. The offer per share is PHP 2,445 per share. On December 19, 2016, the deal is partially completed as Alterra Capital Partners, Inc. completed the acquisition of 93.48% stake comprising of 0.35 million shares at PHP 2,445 per share. As of January 25, 2017, the transaction is approved by Securities and Exchange Commission.