Tiger Resort Asia Limited made an offer to acquire 33.3% stake in Asiabest Group International, Inc. (PSE:ABG) for approximately PHP 320 million on November 11, 2018. As per the offer, Tiger Resort Asia Limited made the offer to acquire 100 million shares at PHP 3.2325 per share. The consideration shall be payable within two business days from the lapse of the tender offer period. In a related deal Tiger Resort Asia Limited entered into a share purchase agreement to acquire 67% stake in Asiabest Group International, Inc. on September 10, 2018. The share purchase agreement will be only completed upon completion of the offer. Upon completion of offer and share purchase agreement, Tiger Resort Asia Limited intends to replace the current Board of Directors and nominate its own Directors. Tiger Resort Asia Limited also intends to replace the current officers of Asiabest Group International, Inc. The deal is subject to regulatory approval and other conditions. The offer period will commence from November 12, 2018 to December 12, 2018. As per amendment report of December 20, 2018, the offer will now close on January 9, 2019 and the expected closing date is January 11, 2019. Brigida B. Jordas of The First Resources Management and Securities Corporation acted as tender offer agent to Tiger Resort Asia Limited while Banco de Oro Unibank, Inc- Trust Banking Group acted as stock transfer agent on the deal. Reyes Tacandong & Co, Financial advisory arm acted fairness opinion provider to Asiabest Group International, Inc. and is of the view that offer is reasonable and fair.