Italpinas Development's (PSE:IDC) board approved the sale of its 25% stake in Constellation Energy back to the latter.
The sale price is based on Constellation Energy's audited book value as of Dec. 31, 2023, and the market value of its real estate assets, according to a Monday Philippine Exchange filing.
The divestment is part of IDC's strategy to streamline its portfolio, the property developer added.
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