CENTRAL Azucarera Don Pedro Inc. (Cadpi), a wholly owned subsidiary of Roxas Holdings Inc., has signed a P600-million deal to dispose of idle machinery and equipment at its Batangas sugar refinery.
The transaction covers “all or substantially all” of Cadpi assets that were previously used in the operations of its sugar refinery in Barangay Lumbangan, Nasugbu, Batangas, Roxas Holdings said in a disclosure on Wednesday.
It said Cadpi executed a deed of absolute sale on June 9 in favor of Infinity Multi Agri Development Corp.
The purchase price will be paid by Infinity based on the terms specified in the deed, with full payment scheduled to be completed by December 2026.
Roxas Holdings did not say whether the transaction would result in a gain or loss for the company, nor did it provide details on how the proceeds would be used.
Cadpi is one of the sugar milling and refining subsidiaries of Roxas Holdings, which is engaged in sugar production and related agribusiness operations.
Trading in Roxas Holdings shares remain suspended after the Philippine Stock Exchange listed the company as one of nine firms that had failed to submit quarterly reports on or before a May 15, 2026 deadline.
Roxas Holdings shares last closed at P1.45 each on May 20, 2024.