METRO Retail Stores Group, Inc. (MRSGI) is creating a new pharmacy unit by acquiring Apple Drugstore Corp. from its principal stockholder and making the firm a wholly owned subsidiary.
In a disclosure on Friday, Metro Retail said that last April 4, its board of directors approved the acquisition of Apple Drugstore via the sale of 2,500 common shares held by Viscal Development Corp. (VDC) at P100 apiece or a total of P250,000.
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