PHILIPPINES PRESS-State pension fund accepts $11 mln offer to buy bank shares-Inquirer

June 23, 2015 1:14 AM

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State pension fund Government Service Insurance System (GSIS) on Monday accepted the offer of private equity firm Altus Capital Partners Inc to buy its stake in GSIS Family Bank for 501 million pesos ($11.13 million), the Philippine Daily Inquirer reported, quoting a government official.

Altus Capital Partners was the only entity to submit an offer before Monday's deadline for the negotiated sale of the majority stake in the thrift bank. (bit.ly/1K8t80Z)

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