Golden Bales Corporation, Greenkraft, Inc. (OTCPK:GKIT), Corbox Corporation, Rex Chua and Clement O. Chua made a tender offer to acquire additional 27.9% stake in Steniel Manufacturing Corporation for PHP 27.9 million on October 12, 2020. Buyers will acquire 279.2 million shares at an offer per share of PHP 0.1. In a related transaction, buyers acquired 64.99% stake in Steniel Manufacturing Corporation from Steniel (Netherlands) Holdings B.V. The remaining 70.9 million common shares will be bought through a private sale. Tender offer will commence at October 12, 2020 and will end on November 10, 2020. Settlement date of the transaction is November 20, 2020. BDO Securities Corporation acted as tender offer agent. Unicapital, Inc. acted as the financial advisor and fairness opinion provider for Steniel Manufacturing Corporation. BDO Capital & Investment Corp. acted as the financial advisor and Martinez Vergara Gonzalez & Serrano acted as the legal advisor for Golden Bales Corporation, Greenkraft, Inc., Corbox Corporation, Rex Chua and Clement O. Chua. BDO Securities Corporation acted as the tender offer agent. Stock Transfer Service, Inc acted as the stock transfer agent in the transaction. Unicapital, Inc. received an advisory fee of PHP 0.3 million (PHP 0.15 million was received on signing of advisor agreement and PHP 0.15 million will be received on the submission of final report). Golden Bales Corporation, Greenkraft, Inc. (OTCPK:GKIT), Corbox Corporation, Rex Chua and Clement O. Chua completed the acquisition of an additional 1.18% stake in Steniel Manufacturing Corporation for PHP 1.2 million on November 10, 2020. A total of 11.78 million common shares of STENIEL were tendered during the tender offer period, which comprise approximately 1.18% of the total issued and outstanding shares of Steniel Manufacturing Corporation.