ROXAS and Co., Inc. said two subsidiaries approved their merger after the approval of their respective shareholders, the company told the stock exchange on Friday.
The subsidiaries are Roxaco Land Corp. and Anya Hotels and Resorts Corp. (AHRC). The holding firm said Roxaco will be the surviving company.
“The companies shall file the Application for Merger with the Securities and Exchange Commission,” Roxas and Co. said.
In its information statement submitted to the stock exchange this week, Roxas and Co. said it directly owns 100% of Roxaco. Other companies it wholly owns include Nasugbu Feeds Corp., United Ventures Corp. and Roxas Green Energy Corp. It also holds 81% of the issued and outstanding shares of Roxas Sigma Agriventures, Inc. and 23% of those of Roxas Holdings. Inc.
In November the company subscribed for 4 million common shares of AHRC at a par value of P1.00 per share and paid up P1 million for the subscription, which is on account of an application for increase in the unit’s capital stock.
At the end of 2017, AHRC was awaiting the issuance of the certificate of increase in authorized capital stock from the Securities and Exchange Commission to complete the transaction. Once the capital increase is in effect, Roxas and Co. will own 97.56% of the issued and outstanding shares of AHRC.
On Friday, Roxas and Co. rose 6.95% to P2. — Victor V. Saulon

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