Metropolitan Bank & Trust Co. has purchased 97 million shares in Vitarich Corp., a move that nullifies Vitarich’s debt to the bank. The shares constitute a 23.7% stake in the company, according to BusinessWorld, a Philippines newspaper.
The shares formerly belonged to Sarmiento Management Corp., Sarphil Corp., L.S. Sarmiento & Co. Inc., Luz M. Sarmiento and Medityre Corp, the newspaper reported.
