Philab Holdings Corp. (PSE:DNA) agreed to acquire 66.66% stake in Sydenham Laboratories Inc. for approximately PHP 390 million on December 11, 2017. The total consideration shall consist of approximately PHP 140 million to be paid in cash and the remaining consideration to be paid through issuance of shares of Philab Holdings Corp. The 66.66% stake in Sydenham Laboratories Inc. comprises of 1.25 million shares of Sydenham Laboratories Inc. In a related transaction, Philab Holdings Corp. shall subscribe to 0.63 million primary common shares of Sydenham Laboratories representing approximately 33.33% stake in Sydenham Laboratories at the price of PHP 46.62 per share. In another related transaction, Philab Holdings Corp. will issue 100 million common shares at a price of PHP 2.50 per share and proceeds raised will be used to fund the company’s growth capital, expansion plans and healthcare related acquisitions. The transaction is subject to the consummation of due diligence investigation, approval by Securities and Exchange Commission and Philippine Stock Exchange. As on March 19, 2018, the Board of Directors of Philab Holdings Corp. approved the transaction. Philab Holdings Corp. (PSE:DNA) cancelled the acquisition of 66.66% stake in Sydenham Laboratories Inc. on December 11, 2018.