Land Bank of the Philippines made a proposal to acquire 66.67% stake in Philippine Dealing System Holdings Corp. from The Philippine Stock Exchange, Inc. (PSE:PSE) and others for PHP 1.5 billion on January 23, 2018. As on March 2, 2018, Land Bank of the Philippines will acquire the shares at PHP 360 per share. As of October 23, 2018, Land Bank of the Philippines made a proposal to acquire 66.67% stake in Philippine Dealing System Holdings Corp. from The Philippine Stock Exchange, Inc. (PSE:PSE) and others for approximately PHP 900 million. Land Bank of the Philippines has reduced the share acquisition price to PHP 215 per share. The consideration will be funded from own capital. The deal is subject to necessary regulatory approvals. The transaction is subject to compliance with all legal and regulatory requirements. The Board of Directors of Land Bank of the Philippines approved the transaction on February 27, 2018. The transaction is expected to be completed in April 2018, however this extended to January 31, 2019. As of February 1, 2019, the offer period is extended to March 15, 2019. As of October 9, 2019, Land Bank of the Philippines is moving closer to getting exemptive relief from the Securities and Exchange Commission in line with its proposed acquisition. On June 15, 2020, Land Bank of the Philippines yet to complete all the regulatory approvals. The transaction is expected to close before year end 2020. As of January 3, 2021, the transaction is expected to complete in 2021. Development Bank of the Philippines acted as financial advisor for Land Bank of the Philippines.